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Karstadt bid deadline passes

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Karstadt bid deadline passes

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As the insolvency administrator’s deadline passed on Friday it was reported that there were three bids for bankrupt German department store chain Karstadt.

They were believed to be from the buyout firm Triton, billionaire Nicolas Berggruen and the Highstreet partnership, which owns most of Karstadt’s property.

The administrator has said it could take several days before there is a decision on Karstadt’s future.