Signa Prime Selection AG, the main subsidiary in the business network of Tyrolean real estate investor Rene Benko, filed for bankruptcy at the Vienna Commercial Court on Thursday. The company announced this this morning in a press release. An in-house restructuring procedure is being requested.
As Signa announced in a broadcast shortly after half past nine today, the board of directors has requested the adoption of a restructuring plan. “The aim is an orderly continuation of operational management in the context of self-management and the sustainable restructuring of the company.”
Signa Development Selection AG is in the same situation and will submit the application for a self-administration restructuring procedure tomorrow, December 29, 2023.
In Signa Prime, Benko has bundled Signa’s shares in well-known properties such as Vienna’s “Golden Quartier”, the Lamarr department store on Vienna’s Mariahilfer Strasse and Berlin’s KaDeWe. At the end of November, an in-house restructuring procedure was initiated through the parent company Signa Holding. (yam/sda/awp/apa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
