New money for Galeria
150
Galeria gets much money. It is a loan of 160 million Euro. The US firm Gordon Brothers gives this money. Galeria pays wages and rent with it. The firm buys new goods for Christmas. But Galeria must also pay old debts. 80 million Euro go to the debts.
There is a plan for the future. The plan takes 3 years. Galeria wants to make profit. The firm checks all places now. 30 stores might close. Many people lose their work then. Other shops shall move into the rooms. Galeria wants to save costs this way.
Galeria belongs to two investors. These are the firm NRDC and Bernd Beetz. The firm often had little money. In 4 years there were 3 insolvenzen. This means a firm cannot pay its bills. Now Galeria hopes for a new start. The stores are important for many city centers.
There is a plan for the future. The plan takes 3 years. Galeria wants to make profit. The firm checks all places now. 30 stores might close. Many people lose their work then. Other shops shall move into the rooms. Galeria wants to save costs this way.
Galeria belongs to two investors. These are the firm NRDC and Bernd Beetz. The firm often had little money. In 4 years there were 3 insolvenzen. This means a firm cannot pay its bills. Now Galeria hopes for a new start. The stores are important for many city centers.
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Definitions
- Loan
- A loan is money you borrow. You pay the money back later. You pay a fee for the loan. The fee is called interest.
- Insolvency
- Insolvenzen means a firm is broke. The firm has not enough money for bills. A court checks the money of the firm.
- Investor
- Investors give money to a firm. They hope the firm has success. They get more money back later.
- Branch
- Filialen is a single shop of a big firm. Galeria has many shops in different cities.
People
- Bernd Beetz
- Bernd Beetz is a businessman. He owns a part of the store chain Galeria.
Locations
- Germany
- The deutsche stores are in Germany. It is a country in Europe.
Sources
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