Signa Prime Selection, which belongs to René Benko’s bankrupt Signa Group, starts selling luxury assets in Vienna and Innsbruck. The Park Hyatt, the Golden Quarter and the Constitutional Court building in Vienna and the Tyrolean department store in Innsbruck are for sale.
As part of the restructuring process under its own management, the interest in Signa Prime Assets GmbH will now be sold, curator Norbert Abel announced on Tuesday evening.
The sale is intended to finance the restructuring plan
“The structured sale of Signa Prime Assets GmbH starts today and is an essential part of Signa Prime Selection’s restructuring concept,” Abel said in a press release.
“The sale is intended to realize part of the financial resources necessary to implement the intended restructuring plan in the interests of creditors,” the restructuring administrator said.
The construction site of Mahü is still at a standstill
Construction of the planned shopping center “Lamarr” on Mariahilfer Straße is currently completed. It is currently unclear what will happen to this other Signa property in Vienna.
There have been several bankruptcies recently in the Benko conglomerate, some of which are worth billions. Renovation efforts are underway. Meanwhile, the bankruptcy decision on company founder Benko itself was postponed until March, as reported on Tuesday.
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.
