The future of what is currently Vienna’s most prominent shell building is even more uncertain today. The project company for the planned Lamarr department store on Vienna’s Mariahilfer Straße filed for bankruptcy proceedings at the Vienna Commercial Court on Friday, creditor protectors AKV, Creditreform and KSV1870 announced.
Due to the bankruptcy of the Signa flagship Signa Prime Selection, financing for the completion of construction is no longer secured.
No information yet from KaDeWe as operator
According to the commercial register (“WirtschaftsCompass”), the bankrupt “Mariahilfer Straße 10-18 Immobilien GmbH” is each 50 percent owned by Signa Prime Capital Invest GmbH and Skyred Holding 9, based in Luxembourg. Signa Prime Capital Invest is a subsidiary of the bankrupt Signa Prime Selection AG and Skyred Holding 9 is an indirect subsidiary of the Thai Central Group. The KaDeWe Group, which also belongs to the Signa and Central Group, would have been intended to operate the Lamarr. KaDeWe has not yet responded to the department store plans in Vienna.
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.
