Quelle Catalog Closes Down
Quelle, one of the oldest catalogs in Germany, is ceasing operations a few months after its parent company Arcandor AG filed for bankruptcy and more than 6,000 employees may be laid off, according to news reports.
In June,Arcandor AG filed insolvency proceedings in District Court in Essen, Germany, according to a statement on its Web site www.arcandor.de
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In the same filing, Quelle GmbH, Karstadt Warenhaus GmbH and Primondo GmbH also applied for protection of creditors.
At that time, Arcandor said it wanted to keep on restructuring the company so that it would stay in business.
Arcandor has been restructuring its direct marketing operations for a few years now. Last year, for example, it sold off its mail order subsidiary Neckermann AG to Sun Capital Partners Inc. (Direct Newsline, March 31, 2008).
