Image: (APA/HELMUT FOHRINGER)
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 building in Vienna as well as the Tyrol department store in Innsbruck.
- Also read: Why many creditors could look through their fingers during the Signa bankruptcy
“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.
What’s next for Lamarr?
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.
- You might also be interested in: Bankruptcy decision on Benko delayed until March
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.
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