Page 3 - Prime Selection News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Benko-Reich collapses: Real estate subsidiaries of the Signa Group insolvent. The real estate and trading empire of billionaire René Benko is in dire straits. After Signa Holding, the core companies of his real estate empire are now also insolvency. After strong growth in the low-interest phase, the network of companies created by Benko, like the entire real estate industry, is struggling with higher construction costs, energy prices and interest rates. Signa Retail Selection AG, headquartered in Switzerland, has announced that it will wind up the company in an orderly manner.

Signa Prime Selection, a key division of the troubled Signa property company, filed for self-administrated restructuring in a Vienna court on Thursday, Signa said. A second important... -December 28, 2023 at 04:41 am EST - MarketScreener

The division of Rene Benko's crumbling property empire that has stakes in Selfridges, KaDeWe and Karsdadt has filed for insolvency in Austria.

The division of Rene Benko's crumbling property empire that has stakes in Selfridges, KaDeWe, and Karsdadt has filed for insolvency in Austria.

Signa Prime will be downsized from its current volume of around 20 billion euros to between one and two billion, the Handelsblatt business daily reported on Thursday. ... -December 28, 2023 at 09:53 am EST - MarketScreener