A Cardboard Box if you're Lucky: Arcandor may fold today.
German company Arcandor may fold today after the German company failed in its bid to get money from the government because it was already failing and the current crisis merely aggravated an already bad situation.
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More than euro500 million in loans come up for renewal at the end of this week and the company reported that it has no realistic way of meeting its obligations without outside help.
Karstadt, the chain store, is under threat of closure although there is some prospect that those shops may be taken over on a management basis by Metro.
But the Thomas Cook travel and bureau de change business - sold by Midland Bank (as was) to a German bank that sold it on to Arcandor - has no current saviour on the horizon.
More than 55,000 staff are facing redundancy.
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