Arcandor AG's (ARO.XE) filing for insolvency presents an opportunity to implement restructuring moves for a better future, German Chancellor Angela Merkel said Monday.

The filing for insolvency doesn't mean the end of the troubled retail and tourism company, "but offers the chance for a reasonable restructuring," Merkel said at the Day of Germany's Industry, organized by the BDI Federation of German industries.

She added that the decisions to let the retailer file for insolvency and help bail out General Motors Corp.'s (GMGMQ) German unit Adam Opel GmbH were right and she wouldn't have decided differently had Germany not been in the middle of election campaign.

She said Arcandor hadn't met the conditions required for government aid to be offered to companies hit by the financial crisis.

-By Andrea Thomas, Dow Jones Newswires; +49-(0)30-2888-4126; andrea.thomas@dowjones.com