The crisis at the retailer Galeria Karstadt Kaufhof GmbH is spreading further. This week, the e-commerce subsidiary Kisura CS GmbH also filed for bankruptcy at the Essen district court. The court said on Thursday that lawyer Stefan Denkhaus had been appointed as the provisional insolvency administrator.
According to the district court, Kisura’s business model consisted of “operating an online fashion community in conjunction with internet services”. However, the curated shopping specialist, which was founded in Berlin in 2013 and has been part of Karstadt since 2018, was no longer active at the time of the bankruptcy filing: Kisura’s online platform had been closed on December 31, 2023.
The company’s demise had been clear months before. “Unfortunately, we have not been able to generate a profit in recent years and due to the current market situation, we do not expect to achieve profitability in the future,” says a statement on Kisura’s website. Against this background, the shareholder Galeria Karstadt Kaufhof GmbH and the management of Kisura “made the business decision to cease business operations for economic reasons with immediate effect from October 31, 2023”. However, services for customers were still offered until the end of the year.