The German fashion retailer Van Graaf is preparing to close its flagship Prague department store after 15 years of operation.

The five-story building on Wenceslas Square, which has hosted more than 200 international brands since opening in 2010, will soon welcome a new tenant.

Large posters now cover the store’s glass facade with the message: “Goodbye, Prague. We are closing our department store. Everything must go.”

Inside, heavy discounts are drawing crowds, with prices cut by up to 50 percent and an additional 20 percent applied across much of the range.

The company has not published any information about the closure on its social media channels.

According to several retail insiders, the space will be taken over by Spanish brand Zara, although neither Zara nor Van Graaf has issued a statement.

Some reports suggest the final day of trading could come in December.

When it opened in June 2010, the Prague department store was Van Graaf’s only branch in Czechia and one of the company’s key projects outside Germany.

The retailer is part of the Peek & Cloppenburg group, a German family-owned company with stores across Germany, Austria, Poland, Hungary, and Switzerland.

Its model has long been based on bringing a wide selection of international fashion labels together under one roof.

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