Image: Wolfgang Spitzbart
The 100 percent Prime subsidiary Signa Real Estate Management GmbH has filed for bankruptcy proceedings at the Vienna Commercial Court, AKV and KSV1870 announced on Monday afternoon. The liabilities are estimated at around 60 million euros, compared to assets of around 5.8 million euros. 47 employees and 82 creditors are affected by the bankruptcy.
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Wages and salaries have been paid up to and including November 2023. According to the AKV, there are currently no plans to continue the company; closure by bankruptcy court has been approved in advance.
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According to the 2022 balance sheet report, which can be viewed in the commercial register, Signa Real Estate Management is active in Austria, Germany and Italy and develops and manages commercial properties in “top inner-city locations”. The projects include the Tyrol department store, the KaDeWe Berlin and the Golden Quarter in Vienna. In the report, the company put its liabilities for 2022 at 30.13 million euros, and sales were 12.11 million euros.
In December, the real estate company is said to have already registered 45 employees with the AMS early warning system for termination.
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