13.02.2024 21:41
(Akt. 13.02.2024 21:50)
Signa doesn’t just sell furnishings like here – it also sells entire luxury properties ©APA/AURENA.AT
The insolvent Signa Prime Selection, which belongs to Rene Benko’s tumbling Signa Group, is starting to sell luxury assets in Vienna and Innsbruck. As part of the restructuring process under self-administration, the stake in Signa Prime Assets GmbH will now be sold, announced insolvency administrator Norbert Abel on Tuesday evening. Participation includes the Park Hyatt, Goldene Quartier and Constitutional Court buildings in Vienna and the Tyrol department store in Innsbruck.
“The structured sale of Signa Prime Assets GmbH starts today and is an essential part of the restructuring concept of Signa Prime Selection,” said Abel in a press release. “The sale is intended to realize part of the financial resources required to fulfill the intended restructuring plan in the interests of the creditors,” said the restructuring administrator.
Construction of the “Lamarr” shopping center planned on Mariahilfer Straße is currently complete. It is currently unclear what will happen to this other Signa property in Vienna. There have recently been several bankruptcies in the Benko conglomerate, some worth billions. Renovation attempts are underway. Meanwhile, the insolvency decision on company founder Benko himself was delayed until March, as reported on Tuesday.
The Signa Prime Selection includes numerous well-known properties in city center locations, not just in Austria. In Berlin this is the luxury department store KaDeWe or in Venice the Hotel Bauer.
The sale of the Tyrol department store in Innsbruck’s best location is likely to also be an issue in the ongoing election campaign for the local council elections on April 14th. The mayoral candidate from the civil alliance list “The New Innsbruck”, ÖVP State Secretary Florian Tursky, called for a “round table” and a “Tyrolean solution” on Tuesday: “All those responsible must be brought together at the table immediately to discuss various options and to find the best alternative for the people in the state capital.” The Tyrol department store must not “become a plaything for international investment funds,” Tursky explained in a press release.
2024-02-14 05:49:22
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