Brief: Arcandor Announces Possible Revitalization Through Insolvency Plan Proceedings
27/08/2020 15:40
Aug 27 (Reuters) - ARCANDOR AG IN DER INSOLVENZ AROG.D :
* POSSIBLE REVITALIZATION OF THE COMPANY THROUGH INSOLVENCY
PLAN
PROCEEDINGS / INVESTOR PROCESS
* SCHERZER & CO. AG, THROUGH A WHOLLY-OWNED SUBSIDIARY,
CARRIED
OUT A FEASIBILITY STUDY ON THE POSSIBILITIES OF CARRYING OUT
INSOLVENCY PLAN PROCEEDINGS ON THE ASSETS OF ARCANDOR
* ARCANDOR AG I.I./I.L. IS BASICALLY CAPABLE OF
RESTRUCTURING
WITHIN THE FRAMEWORK OF AN INSOLVENCY PLAN PROCEDURE
* SCHERZER & CO. AG AND ITS 100% SUBSIDIARY WILL NOW
ACTIVELY
INITIATE A PROCESS, THE AIM OF WHICH IS TO IDENTIFY ONE OR MORE
INVESTORS WHO, TOGETHER WITH THE 100% SUBSIDIARY, INITIATE AND
FINANCE AN INSOLVENCY PLAN PROCEDURE, IN ORDER TO THEN UTILIZE
THE TAX LOSS CARRYFORWARDS AS BEST AS POSSIBLE
* STOCK EXCHANGE LISTING SHOULD ALSO BE RETAINED
Source text for Eikon: ID:nEQbgTrbka
Further company coverage: AROG.D
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