Posts on ‘June 8th, 2009’

No loan guarantees for Arcandor (and Karstadt)

Quite predictably, the German government has this morning refused to support ailing retail and tourism group Arcandor with loan guarantees, saying it was the responsibility of the group’s shareholders, creditors, landlords and suppliers to demonstrate more determination to rescue the business which owns the Karstadt department store group, a number of mail order businesses and a [...]