Bankruptcy of Germany’s Arcandor

Germany’s Arcandor, which owns 52% of Thomas Cook, has filed for bankruptcy protection after the German government rejected a request for loan guarantees.Arcandor, which employs about 70,000 people, had sought 650m euros ($930m; £561m) of guarantees because about 600m euros of its loans need refinancing.Arcandor said its bankruptcy filing covered German retailer Karstadt and [...]