Five years after billionaire René Benko’s Signa Group rescued de facto furniture dealer Kika/Leiner, who was once threatened with bankruptcy, it is now selling him again. And in full: Signa not only sells the real estate, but also the operational matters.
The total sale is made up as follows: The remaining companies will be sold to the Austrian real estate company Supernova Invest. The operational activities will be taken over by a company around furniture retail expert Hermann Wieser, Signa confirms in a short press release.
Kika/Leiner acquired Benko’s Signa in 2018. Negotiations for the sale of the land by Signa Prime would have taken months, krone.at reports.
Benko’s big sale
This year, Benko already sold almost half of the branches of the German department store chain Galeria Karstadt Kaufhof, which went bankrupt in October 2022 despite high German state aid. Signa has also sold half of Berlin’s luxury shopping center KaDeWe to a Thai retail group – cartel authorities have yet to approve the deal.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
