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Signa

All articles tagged with #signa

businessfinance2 years ago•0 min saved

"Signa Administrator Pursues €350M to Prevent Asset Liquidation"

The administrator overseeing Signa's assets is seeking €350 million to prevent a forced sale of the company's assets. Signa, which has a significant portfolio in real estate and retail, is facing financial difficulties and requires this capital injection to stabilize its operations and maintain control over its asset management. The move aims to avoid a fire sale that could devalue the assets and negatively impact the company's financial standing.

via Financial Times|

##assetsale #businessfinance

business2 years ago•4 min saved

"Chrysler Building's Co-Owner's Bankruptcy Sends Shockwaves Through Europe"

Signa, the European co-owner of the Chrysler Building, has filed for bankruptcy after failing to secure fresh funding, becoming the largest casualty of Europe's property crash. The property and retail giant, controlled by Austrian magnate Rene Benko, has debts of around €5 billion ($5.5 billion) and is expected to send ripples through the continent's struggling property sector. Signa's insolvency could trigger a wider drop in commercial property prices if it starts offloading properties. The company's collapse has impacted 42 employees and 273 creditors.

via New York Post |

#bankruptcy #business #european-real-estate

business2 years ago•3 min saved

Property Market Turmoil: Europe's Signa Takes a Fall

Signa, the property and retail giant controlled by Austrian magnate Rene Benko, has declared insolvency after failing to secure fresh funding, becoming the biggest casualty of Europe's property crash. The group, which owns high-profile projects and department stores across Germany, Austria, and Switzerland, blamed external factors affecting its property business and pressure on high-street shopping. The collapse of Signa is expected to have ripple effects on the embattled property sector in Europe. The company's insolvency leaves unfinished construction projects across Germany, and numerous banks and financial institutions have exposure to Signa.

via Reuters|

#business #european-property-sector #insolvency