More rumors about problems with Signa

The rumored “maintenance work” on the Signa Group website is still ongoing today. The home page only contains the legal notice and contact addresses, while the other content has disappeared since yesterday. This is causing the rumors again.

At the same time, as APA reported, according to “Secure Information,” negotiations continued with financial investors and hedge funds. If these measures fail, “there will be no way around the empire’s bankruptcy,” the APA quoted an insider as saying. A “last effort” is underway.

Media reports that a German real estate subsidiary filed for bankruptcy in Berlin-Charlotenburg on Friday are also true, according to insiders. “Spiegel” and “Al-Akhbar” reported on the application. According to the Wirtschaftswoche website, employees were also informed of this via a letter. According to APA information, the court still has to give its formal approval; This is considered a certainty unless the money is raised quickly.

Some defects

The rescue of Tyrolean investor Rene Benko’s group by renovation worker Arndt Goetz, who was appointed under pressure from investors, is also fragile, according to a report in the German newspaper Lebensmittel Zeitung. According to the report and according to APA information, the success of the restructuring of Signa according to the Geiwitz concept is linked to the new liquidity required as quickly as possible – financing of about 500 million euros. “Theoretically” there are still opportunities.

The fact that the situation is difficult is at least confirmed by the construction freeze in prestigious projects in German cities such as Munich and Hamburg. This is about the Elbtower skyscraper.

The original mastermind of the company Benko is also the subject of new parliamentary investigative committees announced in Austria. Among many points, kika/Leiner will also be an issue here – the furniture chains went bankrupt very soon after being sold by Signa and are now only operated in a streamlined manner and are being refurbished. In Germany, the last major department store chain, Galeria Kaufhof, which is part of Signa’s shaky empire, is bracing for Signa to enter difficulties.