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The bankruptcy of René Benko’s (46) empire is spreading. Signa’s next subsidiary has to file for bankruptcy: German sports goods retailer Sportscheck, headquartered in Munich. The chain has 34 branches in Germany and, according to its own information, is one of Germany’s leading providers of sporting goods.
According to the statement, Signa Holding’s subsidiary Sportscheck is bankrupt due to its application for bankruptcy. For this reason, those responsible will also file for bankruptcy later today.
Known among Swiss shopping tourists
Despite the bankruptcy proceedings, 34 Sportscheck branches will remain open for now. The online store will also continue to operate. 1,500 people work at Sportscheck.
Sportscheck does not have its own branch in Switzerland. But the chain is still known to many Swiss: from shopping trips to Konstanz (D), where there is a large branch in the middle of the city centre.
Benko only joined in 2020
Sportscheck was originally supposed to be taken over by British trading group Frasers Group. Following the bankruptcy filing, the takeover has been postponed for now. In the statement, Sportscheck is confident that the acquisition will go ahead or other investors can be found to ensure the continued existence of the retail chain in the long term.
Sportscheck has only been part of the Benko empire for a few years. Three years ago, it took over the then-loss-making chain from the Otto Group. Sportscheck’s recent annual turnover was 350 million Euros.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
