Post by sevenofnine on Dec 28, 2023 12:24:46 GMT -5
That alot of debt
Signa Prime Selection AG, a key subsidiary of the now insolvent Austrian Signa Holding that owns prestigious real estate in Germany, filed for bankruptcy on Thursday.
The company announced that it had filed for debtor-in-possession reorganization proceedings with the Vienna Commercial Court. It said the Signa Development Selection AG would follow suit on Friday.
"The aim is the organized continuation of business operations within the framework of self-administration and the sustainable restructuring of the company," the company said in a press release.
The online sporting goods division Signa Sports United had already filed for insolvency in October, while Signa Holding itself and several smaller subsidiaries announced their insolvency in recent weeks.
DW Business
www.dw.com/en/top-subsidiaries-of-property-giant-signa-file-for-bankruptcy/a-67842317
Signa Prime Selection AG, a key subsidiary of the now insolvent Austrian Signa Holding that owns prestigious real estate in Germany, filed for bankruptcy on Thursday.
The company announced that it had filed for debtor-in-possession reorganization proceedings with the Vienna Commercial Court. It said the Signa Development Selection AG would follow suit on Friday.
"The aim is the organized continuation of business operations within the framework of self-administration and the sustainable restructuring of the company," the company said in a press release.
The online sporting goods division Signa Sports United had already filed for insolvency in October, while Signa Holding itself and several smaller subsidiaries announced their insolvency in recent weeks.
DW Business
www.dw.com/en/top-subsidiaries-of-property-giant-signa-file-for-bankruptcy/a-67842317
!!
