Karstadt Holding

"As the first income from the Karstadt deal, Berggruen can record the usage fee for the naming rights of Karstadt, which he has secured for five million euros. There is a rumor that the fee should be 12 million euros annually. Nicolas Berggruen denies this, but does not mention a specific figure. His Karstadt Holding in the Dutch Beusichem will be set up ahead of the previous Karstadt headquarters in Essen and will charge an administrative fee. The amount of the sum is a trade secret. Karstadt will no longer be a public company, so the internal balance sheets no longer need to be made publicly accessible."

"Further staff reductions are not planned. Berggruen intends to maintain all existing jobs for at least two years and invest around 400 million euros in the stores. This is announced by Berggruen's Karstadt Holding. In contrast, the creditors are supposed to initially receive a modest share of three percent of their claims: The 62.7 million euros, which Nicolas Berggruen has so far deposited in an account as a loan, are ready for disbursement."