Not a day goes by without new information from Benko’s house of cards: as reported, an alleged net worth of 4.2 billion turned into an over-indebtedness of 4.9 billion within just nine months. Now it became known how luxurious the Signa people were.
Benko’s Signa Holding has been bankrupt since Wednesday and has submitted a restructuring plan to the court. According to the bankruptcy filing, the focus of this umbrella company’s activities is on holding investments and providing services to companies from the financially distressed Signa Group. The document available to the “Krone” also states: Signa Holding “primarily manages the investments it holds and in this context also assumes representation and business initiation tasks”.
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.
