Galeria files for fourth bankruptcy in six years; 12,000 jobs at risk

Germany's last major department store chain, Galeria, has filed for bankruptcy for the fourth time in six years, affecting 83 stores and about 12,000 employees. The filing signals continued structural decline in German brick-and-mortar retail, with the future of the chain uncertain. This is a notable corporate distress event in the German retail sector, though its broader market impact is limited.