×
102
Fashion Jobs
GANT
Business Controller to Gant North
Permanent · STOCKHOLM
DANIEL WELLINGTON
Accounting Manager
Permanent · STOCKHOLM
H&M
Cyber Security Iam Lead Specialist to h&m Group
Permanent · STOCKHOLM
H&M
Unit Manager Product Creation & Presentation - h&m
Permanent · STOCKHOLM
H&M
Product Owner For Sap Platform c4e
Permanent · STOCKHOLM
H&M
Global Project Manager, cx Development at h&m Business Unit Womenswear
Permanent · STOCKHOLM
H&M
Web Analyst, at h&m Business Unit Womenswear
Permanent · STOCKHOLM
H&M
Compliance Specialist to Data Privacy Office, h&m Group Legal
Permanent · STOCKHOLM
H&M
Cyber Security Advisor to h&m Group
Permanent · STOCKHOLM
L'OREAL GROUP
Nordic E-Commerce Key Account Manager - Stockholm
Permanent · Stockholm
PUMA
Sales Support Representative Teamsales
Permanent · Solna
RALPH LAUREN
Support Sales Associate Hede pt
Permanent · Kungsbacka
H&M
Junior Planner to h&m
Permanent · STOCKHOLM
RALPH LAUREN
Sale Associate nk Lauren Part Time
Permanent · Gothenburg
RALPH LAUREN
ft Sales Associate nk Lauren
Permanent · Gothenburg
H&M
Junior Buyer-External Brands to h&m Beauty Within The Business Unit: h&m Lifestyle Brands
Permanent · STOCKHOLM
AESOP
Assistant Counter Manager | Aesop nk Stockholm, Sweden
Permanent · Göteborg
H&M
Sales Advisor Piteå
Permanent · PITEÅ
H&M
Department Manager Piteå
Permanent · PITEÅ
H&M
Sales Advisor Töcksfors
Permanent · TÖCKSFORS
JACK & JONES
Store Assistant Jack & Jones Gränby
Permanent · Uppsala
H&M
Lead Engineer to Cyber Defense Center
Permanent · STOCKHOLM
By
Reuters
Published
Jun 24, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Germany still mulling options for Quelle

By
Reuters
Published
Jun 24, 2009

BERLIN, June 24 (Reuters) - A German government committee is considering a variety of aid options for the Quelle mail order unit of retailer Arcandor (AROG.DE), including guarantees and a direct loan, a government source said on Wednesday 24 June.


Photo: REUTERS/Thomas Peter

On Tuesday 23 June, the Financial Times Deutschland newspaper had reported that the committee was against giving Quelle a state loan guarantee of some 50 million euros ($69.29 million).

But the government source said the question was still open, and that the committee was discussing different possibilities, including a direct loan from state-bank KfW.

"We are going to take another look at various models," the source, who requested anonymity, told Reuters. "Is a loan guarantee a better instrument or is a (direct) loan better -- that is the key question."

The source said it was not clear whether a decision would come on Wednesday 24 June or later in the week.

The Financial Times Deutschland and Sueddeutsche Zeutung said in separate reports on Wednesday 24 June that the German state of Bavaria, where Quelle is based, was looking into helping it out with loans of its own, should the federal government balk at giving guarantees.

The newspapers cited people familiar with talks between the state and Quelle, which is headquartered in the Bavarian town of Fuerth.

Its parent Arcandor, which owns the Karstadt chain of department stores and a majority stake in UK-based travel group Thomas Cook (TCG.L), filed for insolvency earlier this month after the government rejected two successive appeals for state aid.

Arcandor's priority now is to shore up Quelle, which needs cash to publish its new catalogue for the fall/winter season and order new goods.

Arcandor Chief Executive Karl-Gerhard Eick wants to save the company with a structured insolvency, keeping all three business areas.

(Reporting by Gernot Heller and Ludwig Burger, writing by Brian Rohan and Noah Barkin; Editing by Hans Peters)

© Thomson Reuters 2022 All rights reserved.