Bankruptcy administrator starts the process: Vienna Signa store will be sold

class = “sc-cffd1e67-0 iQNQmc”>

Responsible insolvency administrator Clemens Richter announced this on Wednesday. The construction site of the multi-purpose building, like other Signa projects under construction, has been at a standstill for several weeks.

“At the first stage of the bankruptcy proceedings it was necessary to organize permanent security of the construction site,” said Richter. “The structured sales process now initiated aims to find the best possible buyer and clarify uncertainties that have existed for months regarding the future of the ‘Lamarr’ project.” No timetable was given for when the 390 million euros mortgaged property and construction site should be cleared.

Thai project partner Central Group can be considered as the buyer of the independent project. At least before the sales process began, observers thought it was possible. In February, it was announced that key Signa Prime properties such as the Park Hyatt, Goldenes Quartier and the Constitutional Court building in Vienna, as well as the Tirol store in Innsbruck, would be sold.

According to Signa’s plans, the “Lamarr” property, on the site of Signa Retail Selection’s former Leiner flagship store on one of Vienna’s most important shopping streets, will include the construction of a new hotel and a first-class department store, which will also include a public park will take. Roof terrace. However, the “Lamarr” project has come to a halt for weeks due to the difficulties experienced by the Benko Group, whose most important companies are in the process of multibillion-dollar bankruptcy.

Meanwhile, Bloomberg news agency reported on Wednesday, citing insiders, that Signa Prime Selection is about to sell “Romy,” which is under construction in Munich. It has to go to German construction contractor Alfons Doblinger, but the deal is still open. Signa Prime is building the project on the site of the former Kaut-Bullinger stationery store on the Rosenstrasse shopping street. Retail and office space are planned there.

Signa Group is also active in the department store business in Switzerland with a 50 percent stake in Globus Group. The remaining 50 percent of Globus is owned by Thai Central Group.

(SDA)

Source :Blick