Thomas Middelhoff's new venture is the newly founded investment firm BLM Partners, where he serves as "chairman and founding partner". Roland Berger is one of the partners as well, and Wolfgang Clement is on the advisory board. Some quotes from the "mission page":
“New ideas for extraordinary times”
“Invest in highest calibre people”
“No legacy issues”
“Focused on providing solutions”
“A powerful platform for future value creation"
Sounds a bit like the Arcandor website, doesn't it? (Well, maybe except the "no legacy issues" bit...)
Oh, if you're looking for a job, they are currently hiring a "Special Situations Associate", whatever that means.