Fears that Arcandor won’t receive the state aid it is
looking for are sending shares tumbling, reports Reuters. The German government will this
week decide the fate of the troubled retail and leisure group.
Arcandor’s other option might be to sell parts of its business:
Otto is rumoured to be interested in acquiring Arcandor’s
catalogues, which include womenswear titles Elegance and
Peter Hahn and apparel and housewares mailer
Afibel. German retailer Metro may be interested
in taking Arcandor’s department store business.
In an article titled “Put it on expenses”, the
Sunday Times describes Oka as the
“furniture retailer of choice for Conservative
MPs”. That’s not surprising when you consider that it was
founded by Tory leader David Cameron’s mother-in-law.
Apparently the Camerons are “Oka’d up to the
rafters”. Meanwhile, Labour MPs, notes the article, prefer
The Daily Mail tips Kim Winser, who resigned as
Aquascutum’s chief executive last week, to take the top
job at Marks & Spencer when Stuart Rose retires.
Also from the Mail this weekend, an interview with
Wrapit founder Pepita Diamand. For more on this story
check out our
Congratulations to cataloguer Avon Bulbs for winning its 21st Chelsea gold
metal last week. Three cheers also to cosmetics firm Liz Earle,
whose display won the “Sloane in Bloom”