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Signa Prime appears to be on the verge of bankruptcy » Leadersnet

Signa Prime appears to be on the verge of bankruptcy » Leadersnet

| Tobias Seyfried

| December 10, 2023

Luxury properties are grouped into the subsidiary. Meanwhile, Rene Benco is loud Forbes He is no longer a billionaire.

Signa Holding filed for bankruptcy about two weeks ago and has since been seeking restructuring measures under self-administration. Recently, most of the employees have been registered for termination by the restructuring officer (leadersnet mentioned). Now Signa Prime, a particularly important subsidiary, is said to be facing bankruptcy. This is what German reports reported Mirror. Here too, the restructuring process is being planned under self-administration.

Properties in the best locations within the city

Signa Prime brings together, so to speak, the best parts of the company founded by René Benko. Specifically, these are properties in prime locations in various cities in Austria, Germany, Great Britain, Switzerland and Northern Italy. According to the report, real estate assets amounted to 14.2 billion euros in the annual financial statements for 2022. There will be only 6.1 billion euros in the insolvency application and only 2.8 billion at the end of September 2023. With Signa Prime, it is hoped that this will be done through Assets can be saved in a reorganization plan. The more assets are held, the more likely it is that Signa Holding’s restructuring will lead to a positive outcome. He writes that it is unclear whether the plan will succeed Mirror. Therefore, the bankruptcy application should be filed within the next two weeks.

Benko is no longer on Forbes’ list of billionaires

independent from Mirror-The report may Forbes Rene Benko has been removed from his list of billionaires. At the end of November, Cigna’s founder’s assets had shrunk by more than half, from about $6 billion to $2.8 billion, in just a few months. As a result, Benko fell from 425th to 1105th place in the American magazine’s rich rankings. It has now completely disappeared from the list. Such are the estimates Forbes Rene Benco has a net worth of less than $1 billion. But Signa’s founder probably doesn’t have to worry financially.

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