Image: APA/Georg Hochmuth
As the OÖNachrichten reported on Saturday, the Lamarr construction site on Vienna’s Mariahilfer Straße is only 30 to 40 percent completed. According to the applicants, financing for completion is no longer secured, primarily due to the Signa Prime renovation process.
- More on the subject: Signa Lamarr bankruptcy hits companies in Upper Austria
- also read: Close confidant: Benko after Signa’s bankruptcy “a broken man”
When bankruptcy was declared, the company was in debt to its banks for 260 million euros. In addition, there are around 16.5 million euros in outstanding invoices, he writes “default”. The company’s assets therefore consist of the approximately 7,400 square meter property, which is encumbered with liens, as well as 9 million euros in Bank Austria accounts. However, they are also pawned.
Opening planned for 2025
The luxury department store project was actually scheduled to open in spring 2025. The financing was to be provided by the shareholders on the one hand and, on the other hand, by a loan of 390 million euros granted by a banking consortium led by UniCredit. According to the report, two banks have secured themselves with liens in the land register: RLB Oberösterreich with a maximum mortgage of 95 million euros in 2018 and at the beginning of 2022 Unicredit Bank Austria with one of 295 million euros.
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