Arcandor revival plan hits setback

Arcandor, the German retailer that became one of Europe’s biggest corporate casualties of the downturn in 2009, suffered a big setback in its plans to re-emerge intact from bankruptcy July 2009 when its re-structuring adviser quit, blaming the company’s main shareholder for lack of support.

ESO: Background information: Brussels approves Arcandor rescue aid http://www.europeansources.info/record/brussels-approves-arcandor-rescue-aid/

Deutsche Welle, 10.7.09: Ailing German mail order firm secures loan to stay in business http://www.dw-world.de/dw/article/0,,4471696,00.html

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