The furniture chain’s special administrator, Stephan Riel, informed the creditors’ committee members about this in an email, said Creditreform Austria managing director Gerhard Weinhofer to the APA. Signa spokesman Robert Leingruber confirmed the 5 million payment upon request.
Comparison with the payment became legally effective
With the payment, the settlement is legally effective, according to creditor protection officer Weinhofer. This is “an important building block towards restructuring”. Shortly after Signa sold the operational Kika/Leiner business to trading manager and investor Hermann Wieser, the furniture chain filed for bankruptcy in mid-June. The Graz Supernova Group bought the furniture store properties. Since then, the furniture chain has been in a restructuring process without self-administration. Because some questions arose about Kika/Leiner’s business activities under Signa ownership after the bankruptcy, the Viennese lawyer and insolvency expert Riel was appointed as a “special administrator”. He was responsible for examining the causes of the asset collapse and examining and enforcing claims arising from the violation of creditor protection provisions. Riel also delivered a report on his audit work to the insolvency administrator.
Next Monday (September 25th) the decisive renovation plan meeting for Kika/Leiner will take place at the St. Pölten regional court. The creditors still have to agree to the final restructuring plan proposal.
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