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Signa causes aftershocks from bankruptcy

Signa causes aftershocks from bankruptcy

DrThe collapse of the investment company Cigna Holdings has dragged more and more companies into the abyss. Naturally, this affects parts of the complex business conglomerate owned by Tyrolean investor Rene Benko. After several bankruptcies, the bankruptcy of an IT company became known on Tuesday. A restructuring procedure without self-administration has been opened in the Vienna Commercial Court for Informationstechnologie GmbH, several credit protection associations have announced.

Michaela Caesar

Economic correspondent for Austria-Hungary based in Vienna.

The debtor wants to continue the company and offers the 154 supposedly affected creditors to repay 20 percent of their debts within two years after acceptance. This is the minimum stake legally required for this type of action.

The continued operation of the debtor company is said to be of great importance to the entire Signa Group. “It can be assumed that the debtor’s services will be reduced in the course of the restructuring process without self-management,” says Jürgen Gebauer of Kreditschutzverband (KSV) von 1870. It is possible that the important real estate companies Prime and Development will file for bankruptcy. almost.

15 breakdowns per day

This is likely to lead to further bankruptcies between Bregenz and Eisenstadt. In early 2023, the number of applications increased by 13 percent compared to the previous year, the creditor protection institution KSV Since 1870 announced on Wednesday. 5,401 companies were affected. This equates to 15 collapses per day and a similar number of cases as ten years ago. Temporary debts were also said to have risen significantly, not least because of the bankruptcy of Cigna Holdings.

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