Wednesday 31, January
KaDeWe goes bankrupt: What next for Berlin’s house of luxury?
The KaDeWe department store first opened in 1907, with the giant building long since standing as a symbol of West Berlin luxury, wealth and consumerism. That gilded reputation has now been tarnished as the KaDeWe group, who operate the building, filed for bankruptcy on January 29.
How did this happen? As late as November last year, managing director Michael Peterseim was giving interviews saying the store was doing well. But the truth may have been a little murkier. According to a report in rbb, it seems the company has been violating…