Arcandor in a mess
Arcandor the owner of Karstadt which is one of Germany’s oldest chain of stores asked for bankruptcy protection. Prior to this, the German Government rejected Karstadt’s request for a 440 million euros loan aid, and application for State guarantees, because it was considered that Arcandor’s insolvency is not because of the current economic crisis, but the result of the company’s previous management’s failures.
Related news
More related news >
Related news
Hungary has been a member of the European Union for two decades: what does this mean for the economy?
This year Hungary joined the European Union twenty years ago.…
Read more >Inflationary pressures remain with us
Inflationary pressure still does not ease the companies. Although inflation…
Read more >Hungarian companies are optimistic about the climate goals
Domestic companies are optimistic about their climate commitments, but divisions…
Read more >