The German department store chain appears to be preparing to sell its Belgian subsidiary Inno.
Various media, including the Frankfurter Allgemeine Zeitung, report that Inno will be available on the market at the end of the week. This would affect 16 locations.
The sale of Inno was discussed as early as February, when the German retailer was still in the restructuring process. At this point, there were no “concrete sales discussions,” Inno said at the time. However, the sale of the retailer, which is pledged to the federal government’s economic stabilization fund, could now be imminent. The German state would benefit from this and not the Galeria owner Signa.
Galeria and Inno have not yet responded to inquiries from FashionUnited.