Karstadt to Axe 1,270 Jobs by 2016

Arcandor AG in der Insolvenz is a Germany-based tourism, mail order services and retail group. The Company's business is covered by three operating segments: Thomas Cook, Primondo and Karstadt. Thomas Cook Group plc is a tour operator with operations in Europe and North America, set up as a result of a merger between MyTravel and Thomas Cook AG. It also operates the e-commerce platform, Thomas Cook, supporting travel services. Primondo has a portfolio of European universal and specialty mail order companies, including the core brand Quelle. Karstadt operates a range of department stores, such as cosmopolitan stores, including KaDeWe (Kaufhaus des Westens), Karstadt Oberpollinger and Alsterhaus; Karstadt brand department stores; Karstadt sports department stores, offering sports goods in a variety of retail outlets; and a portal, karstadt.de that offers online shopping, among others. The Company has been in insolvency since September 1, 2009.