Thailand's Central Group said Friday it has bought the iconic KaDeWe department store in Berlin from insolvent Austrian real-estate giant Signa.
The news came several months after the company that operates the store, KaDeWe group, filed for bankruptcy, reportedly blaming the turmoil engulfing Signa. KaDeWe, short for"Kaufhaus des Westens" or the"Department Store of the West", first opened its doors in 1907, and is one of Europe's biggest department stores.
Source: Real Estate Daily Report (realestatedailyreport.net)
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