Karstadt: close to insolvency - The future of its staff is uncertaine

Department store chain Karstadt has a long tradition in Germany. The owner of the the famous KaDeWe store in Berlin is Germany's biggest retail chain by sales. But business has been deteriorating for years. The retailer came close to insolvency in 2004, but was brought back from the brink. All attempts to stem the decline in sales since then have failed. +++SYN-MAZ+++