Karstadt bankruptcy can cause a wave of store closures

Store closures wave can hit Germany in the forthcoming years, because of the bankruptcy of Germany's Karstadt chain of stores and its parent company; Arcandor.

According to experts, about two-thirds of the 200 Karstadt and Kaufhof stores will be closed in the forthcoming years, so only 60-70 stores would remain in 45 German cities.
One of the most popular largest and traditional supermarket chain in Germany is requested bankruptcy protection in early June. Fourty-three thousands jobs are in threat. Experts say that this is the largest ever bankruptcy in Germany – reports Világgazdaság Online.