85 854
Fashion Jobs
BLOOMINGDALE'S
Merchant Operations Analyst
Permanent · NEW YORK
CROCS
Director, Service Management And Observability
Permanent · BROOMFIELD
CROCS
Supervisor, Distribution Center
Permanent · LAS VEGAS
QVC
td/Director
Permanent · WEST CHESTER
BUCKLE BRANDS
Womens Buying Support i
Permanent · KEARNEY
ALEXANDER MCQUEEN
Alexander Mcqueen Operations Manager, Saks NY
Permanent · NEW YORK
WILLIAMS SONOMA
Assistant Site Manager – Williams Sonoma
Permanent · SAN FRANCISCO
TIFFANY & CO
Branch Security Officer- South Coast Plaza
Permanent · COSTA MESA
OLD NAVY
Assistant General Manager, Merchandising - Pheasant Run Plaza
Permanent · CHICO
OLD NAVY
Assistant General Manager, Merchandising - Merrimack Premium
Permanent · MERRIMACK
ATHLETA
Assistant General Manager - 18th & 5th
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Arizona Mills
Permanent · TEMPE
GAP
General Manager - Philadelphia Mills
Permanent · PHILADELPHIA
OLD NAVY
General Manager - Shops at Waldorf Center (New Store)
Permanent · WALDORF
OLD NAVY
Assistant General Manager, Merchandising - Triangle Square
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Northgate Mall
Permanent · CHATTANOOGA
OLD NAVY
General Manager - Coosa Town Center
Permanent · GADSDEN
OLD NAVY
General Manager - Upper Valley Plaza
Permanent · LEBANON
ATHLETA
General Manager - Issaquah Commons
Permanent · ISSAQUAH
ATHLETA
General Manager - 2nd And Pch
Permanent · LONG BEACH
BANANA REPUBLIC
Assistant General Manager - Home
Permanent · TROY
OLD NAVY
Director, CRM, Marketing
Permanent · SAN FRANCISCO
By
Reuters
Published
May 27, 2009
Download
Download the article
Print
Text size

Arcandor's store landlords show flexibility

By
Reuters
Published
May 27, 2009

FRANKFURT, May 27 (Reuters) - Stricken German retail and tourism group Arcandor (AROG.DE) is in talks with the owners of its department store buildings to negotiate lower rent, two sources close to the talks told Reuters on Wednesday 27 May.



The talks were going very well, the sources said, and could result in a deferral or a temporary cut in rent Arcandor has to pay to the owners of its Karstadt stores, which are mainly owned by a consortium that is led by Goldman Sachs (GS.N) and Deutsche Bank's (DBKGn.DE) Rreef funds.

"No one from the real estate owners is interested in Arcandor going insolvent," one of the sources said.

Arcandor was not immediately available for comment.

Arcandor, which has long struggled to break even, has been dragged deeper into crisis by the global recession, prompting its chief executive to warn that it could go bust within weeks if it did not get more than $1 billion in state aid.

The talks are part of Arcandor Chief Executive Karl-Gerhard Eick's five-year turnaround plan, which will see Arcandor move downmarket and hive off loss-making businesses.

(Reporting by Philipp Halstrick)

© Thomson Reuters 2024 All rights reserved.