The online sports trading platform Signa Sports United, which is listed on the stock exchange in the USA and is majority-owned by the Tyrolean investor René bench heard, has made a loss of more than half a billion euros. The bottom line was a minus of 566 million euros in the past financial year – after minus 46 million euros in the previous year. Now Signa Holding has to inject further capital. Signa Sports trades in sporting goods, including bicycles, and had grown significantly during the corona crisis.
weaker demand
The figures were burdened by a write-down of 244 million euros for the bicycle dealer Wiggle. The company was acquired by Signa Sports as part of the 2021 IPO. Delivery problems and weaker demand have also clouded business since it went public. Signa Sports shares have lost around half their value since then.
In order to strengthen what the company says is a “precarious liquidity situation”, Signa Holding is now investing capital in the sports retailer. 130 million euros in additional capital have been promised, writes the “Presse”. The money is to be raised through convertible bonds. Furthermore, a bridging loan of up to 50 million euros should keep Signa Sports afloat. The company does not expect to return to profitability until 2024.
