The District Court in Essen as the competent insolvency court has appointed Dr. Klaus Hubert Görg as
insolvency administrator of Arcandor AG, Karstadt Warenhaus GmbH, Quelle GmbH and 39 other
companies in the Arcandor group, transferring the power of administration and control over all
assets and the power of representation of these companies to the insolvency administrator.
The court has set the dates for creditors’ meetings relating to Arcandor AG, Karstadt Warenhaus
GmbH and Quelle GmbH for 9 November 2009, 10 November 2009 and 11 November 2009,
respectively. These three “reporting meetings” will be held in the Gruga Hall in Essen. The creditors’
meetings for the remaining companies are scheduled to take place in the days following.
“Our aim is to present the creditors in November with feasible restructuring concepts for voting,“
Görg said. “As announced in Nuremberg on 13 August, we will therefore press ahead with the
restructuring of the two trading segments Karstadt and Primondo/Quelle.“

Karstadt department stores
At the start of the trading months generating the highest turnover, Görg referred to this year’s autumn
campaign, “Top quality at top prices“, which has been an established feature of Karstadt in Germany
since its 125th anniversary. “The success of our restructuring depends as much on our committed staff as
on our loyal and new customers who we hope to gain and retain with this year’s autumn campaign,
convincing them of Karstadt’s quality,“ Görg said.

As announced, the talks with employee representatives, lessors, service providers and suppliers in the
Karstadt sports and department stores sector are aimed to be constructive. The outcome of the
respective negotiations about contributions to the restructuring efforts will eventually make up the key
points of the insolvency plan which is to restructure Karstadt “as a whole“. The results of these
negotiations are to define how many Karstadt stores on the whole can continue operating. Currently, 19
of a total of 126 stores are still on the check list. The objective of the insolvency administration in the
talks about individual restructuring contributions is to ensure that as many stores as possible can carry
on. “We know that almost 28,000 employees are waiting expectantly for the key points of the
insolvency plan. Therefore, we are negotiating with our opposite numbers as swiftly as possible and, of
course, as thoroughly as necessary,“ Görg explained.
Effective immediately, Karstadt will be managed by the following team: Dr. Thomas Töpfer continues as
Chief Financial Officer (CFO); Dr. Emmanuel Siregar stays on as Human Resources Director; Marco
Schöner as Chief Purchase Officer of Karstadt remains responsible for purchasing. New to the Karstadt
management team are Andreas Boznar, who will in future be responsible for sales, and Thomas Fox
from the Berlin‐based management consultant firm Modales, who already acted as Chief Restructuring
Officer (CRO) in the filing procedure.
Lawyer Rolf Weidmann, Manager of the Essen‐based law firm GÖRG, will remain responsible in the
insolvency administration team for the Karstadt department stores.

Primondo/Quelle
The negotiations for follow‐up financing of the factoring for Primondo/Quelle are currently in progress.
“All of the parties in the negotiation process are aware of their responsibility of effectively stabilising
Europe’s largest mail‐order company in the market,“ Görg said. “From our point of view, the talks could
be concluded by 9 September 2009.“
The negotiations have been in progress since mid‐August 2009 and have included the social
compensation plan and a reconciliation of interests for staff who could not be kept on due to the closure
of the Quelle Technology Centre after operating losses. “As already announced in mid‐August, the
insolvency administration, the management, the employment agency and the Bavarian government
have intensively worked on the financing of a job creation and qualification company,“ Görg explains.

The insolvency administrator is confident that interested investors will have completed their profitability
check of a universal and special mail‐order cooperative before the start of the creditors’ meetings.
As already specified in the filing procedure, GÖRG partner Dr. Jörg Nerlich will be given responsibility for
the Primondo/Quelle cooperative.

Arcandor Holding
“We will most likely need the majority of the good 100 staff at the holding to handle the insolvency
proceedings and support our restructuring and sales activities,“ Görg confirmed. Those whose sphere of
responsibility was no longer required in the insolvency proceedings would be invited for personal talks
by the end of September, he continued.
In an internal memo to all employees, Görg had written: “On behalf of my partners and colleagues, I
would like to thank you very much for your dedication and service in the provisional insolvency
proceedings. We know that you have fought passionately for your company since 2004. We also
know that we have important months ahead of us in which we will join together to shape our
future.“
Along with CEO Dr. Karl‐Gerhard Eick, other executives to leave the company include CFO Rüdiger A.
Günther, Arnold Mattschull (Head of Central Purchasing), Stefan W. Herzberg (Head of Department
Stores), Zvezdana Seeger (Head of Restructuring and IT), and Manny Fontenla‐Novoa (Head of
Tourism).
Görg also thanked the members of the Executive Board, who had actively supported the provisional
insolvency administration.
Marc Sommer, CEO of the mail‐order group Primondo, will continue to support the sales activities
and the control of operations in his area of responsibility.

Thomas Schulz
rw konzept - Agentur für UnternehmensKommunikation
Maastrichter Straße 53 50672 Köln
 Fon: +(0)221-400 73 - 85
Fax: +(0)221-400 73 - 88
mobil: +49 171 86 86 482
schulz@rw-konzept.de