Arcandor AG

Essen Germany

  (German: ARO)

Company Description

Ailing German retail group Arcandor AG operates more than 100 department stores and sporting goods shops in Germany under the Karstadt banner. Its failed Primondo homeshopping subsidiary operated the Quelle mail-order and e-commerce businesses in Germany and abroad. Stung by weak consumer spending and a downturn in the department store sector, Germany's oldest department store operator filed for bankruptcy in June 2009. Now Arcandor is attemtping to sells its department store business and its assets. Arcandor's lenders took control of its majority stake in the Thomas Cook travel group -- its biggest moneymaker -- in September 2009 and sold the shares on the stock exchange.