×
480
Fashion Jobs
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
CURLYFE BIOSCIENCES
Senior Area Sales Manager
Permanent · Ghaziabad
By
Reuters
Published
Jun 15, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Arcandor considering insolvency loan application

By
Reuters
Published
Jun 15, 2009

FRANKFURT, June 15 (Reuters) - Bankrupt German retailer Arcandor (AROG.DE), which holds about 53 percent in travel company Thomas Cook (TCG.L), will decide soon whether it will apply for an insolvency loan, a spokesman said on Monday 15 June.



A source with knowledge of the situation said Arcandor -- which filed for insolvency last week after the German government rejected its requests for state aid -- would need funding soon to keep operations going.

The Arcandor spokesman said the company was in the process of making a decision on a potential insolvency loan, the size and the banks. In theory, Arcandor could ask for state guarantees for such a loan.

A source close to the company said Arcandor's supervisory board would meet on Tuesday 16 June. Arcandor declined to comment.

The company's insolvency administrator, Klaus Hubert Goerg, invited the press for Thursday 18 June to give an update on the insolvency proceedings. Arcandor is also due to report first-half results on the same day.

The German Economy Ministry had said on Saturday 13 June that Arcandor could still be granted aid from the state. A spokesman for the ministry said Arcandor could still apply for a so-called "Massekredit", a special kind of loan that can be granted once insolvency proceedings have begun.

A Massekredit can be given to companies at short notice to help them keep operating during insolvency proceedings. Servicing such loans takes precedence over claims of other creditors, making it a less risky option for the government.

Arcandor shares, which have fallen almost 60 percent in the past five trading days, rose more than 11 percent on Monday 15 June and closed up 1.3 percent at 0.77 euros.

(Reporting by Eva Kuehnen, Nikola Rotscheroth and Matthias Inverarid in Duesseldorf; editing by Simon Jessop)

© Thomson Reuters 2022 All rights reserved.