Surprisingly, the Signa Group is cutting off the money from the sports retailer Signa Sports and accepting bankruptcy. For real estate king Benko, the situation is getting worse: instead of years of expansion, it is now about damage limitation.
It was just a short message that the badly hit online retailer Signa Sports United published on Monday evening. In technical terms, the company, which is based in Berlin and was until recently listed on the New York Stock Exchange, reported what can be put more simply as follows: The long-standing parent company Signa Holding of the Austrian investor René Benko has turned off the money supply to the company. A financing commitment of 150 million euros, which was only agreed in the summer and which the online retailer needs to continue its business, was canceled.
Source: Stern
