News

The failure to save Arcandor earlier this year was not only difficult news for the people working in the travel agency Thomas Cook but proved to be terrible news for the company's subsidiaries such as Quelle as it has become evident over the last few weeks. In a press statement Ver.di's vice chairman Margret Mönig-Raane called it a “tragic end of a line of business and political mistakes” when the last hopes of saving the company expired. A credit of €50 million was eventually given to the company but it came too late to save the company and the reluctant stance by banks and other investors helped drive the company to its final closure.



Ver.di hopes that with the actions of today that the government will be willing to find funds to help the employees who now are without job to get a new job.



For more on Ver.di's actions and press releases visit: www.verdi.de



Quelle is a subsidiary of Primondo which is a subsidiary to Arcandor. Quelle has numerous brands and operates in 18 European countries. Quelle has about 10.500 employees and was founded in 1927 before it was bought by Arcandor in 2006.