Arcandor filed for bankruptcy on 9 June 2009. On 12 April 2010 the board of creditors agreed to the insolvency plan proposed by the insolvency administrator Klaus Hubertus Görg which envisaged a sale of the Karstadt department stores as a single entity to an investor and the waiver by the creditors of a large part of their demands. Some municipalities initially refused to agree to the required waiver of business tax payments. Four parties expressed interest in purchasing the Karstadt stores: the German-Swedish investor group Triton, Whitehall together with the Borletti Group and the German financial investor Nicolas Berggruen. Metro AG also expressed interest, but only in the acquisition of certain lucrative and strategically interesting Karstadt stores, which it intended to combine with its own Kaufhof stores into the “Deutsche Warenhaus AG”.