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Another company in the Signa empire of Austrian investor René Benko (46) also went bankrupt. The bankruptcy court of the Zurich District Court opened bankruptcy proceedings against Signa Retail Sports Holding GmbH. The bankruptcy case was opened a week ago, on March 13, according to a publication in the Swiss Official Business Gazette (SOGC) on Wednesday.
In 2018, the company acquired shares in Munich-based Signa International Sports Holding, which in turn retained shares in online retailer Signa Sports United, which is currently listed on the stock exchange, according to cantonal business registry records. It is also bankrupt.
Company overview
Signa Retail Sports Holding is part of René Benko’s extensive holding. There have been several bankruptcies on this network recently, some worth billions. Renovation initiatives are ongoing. The company’s founder, Benko himself, was forced to file for bankruptcy.
Bankruptcy proceedings continue in Switzerland for Signa Retail Shopping Center Holding and Signa Retail Selection. The latter holds, among other things, Signa Group’s 50 percent stake in Swiss department store group Globus. The remaining 50 percent of Globus is owned by Thai Central Group.
Many Signa companies are also in debt moratorium, such as Signa Real Estate Management Schweiz GmbH, Signa Financial Services AG, Signa European Invest Holding AG, Signa Retail Luxury Holding GmbH and Signa Retail Home & Living Holding GmbH. Others were terminated by the decision of the general assembly and are in liquidation. (SDA)
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.
