German retailer KarstadtQuelle has denied that it had plans to dispose of stores. The company made the statement on Friday after the Financial Times Deutschland reported that up to 30% of its 90 department stores could be sold. 'These stores are not for sale or closure,' a KarstadtQuelle spokesman said. 'These are improvement stores that have set goals to reach.'
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
