By  on April 20, 2009

BERLIN — As part of a radical restructuring plan to improve cash flow and earnings, Arcandor AG, the struggling department store, catalogue and travel group, is spinning off its premium department store operations and a large portion of its catalogue business into a separate company called Atrys.

The new firm will control the department stores KaDeWe, Alsterhaus and Oberpollinger; eight underperformingKarstadt doors; 1,500 Quelle catalogue brick-and-mortar stores, and 115 Quelle Technical Centers. About 12,500 of Arcandor’s 50,000 employees could be affected.

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