Posts on ‘June 9th, 2009’

Update – Arcandor files for insolvency as owners don’t shed tears

Following yesterday’s refusal by the German government to grant either a EUR437 million rescue loan or at least loan guarantees over EUR650 million to retail group Arcandor (see details here), and following renewed confirmation from the group’s shareholders, creditors and landlords that they would not step up their efforts to rescue the business, Arcandor has [...]