Things are happening in quick succession at Signa: after Signa Prime Selection AG, the flagship of the Signa Group’s real estate division, Signa Development Selection AG is also expected to file for bankruptcy on Friday, news agency APA reports.
Like Prime and parent company Signa Holding, which filed for bankruptcy in late November, Signa Development is pursuing a self-managed restructuring process. This is another central real estate company in René Benko’s business network.
Like Signa Holding and Signa Prime, the development is likely to join the list of the largest bankruptcies in Austrian history. Signa Development specializes in real estate development projects in German-speaking countries and Northern Italy.
(hah/sda/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.
