Debts of 1.13 billion euros with 26 creditors are offset by assets of only 1.51 million euros. Nevertheless, the company is aiming for a restructuring process and is offering a 20 percent quota within two years. “I also ask myself the question of how they want to do it,” said AKV credit protector Cornelia Wesenauer.
- Also read: Benko’s bankruptcy trustee: “It could take a few years”
Signa Holding, which has been insolvent since November 2023, directly and indirectly holds a good 95 percent of Signa Retail. Due to the bankruptcy of the parent company, liability commitments made at Signa Retail level became effective and could no longer be serviced due to a lack of financing from the shareholders, the AKV announced. Signa Retail currently holds indirect investments in various corporate groups in the retail sector. These include GKK, the KaDeWe Group, GLOBUS and the Selfridges Group.
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