In December 2022, Benko’s Signa empire began to crumble – resulting in a domino of insolvency from late November last year. The collapse of the empire is responsible for the greatest bankruptcy of the Second Republic. How could it come to this? The substantiated chronology in our digital special.
Real estate in prime locations and investments in large retail chains such as Galeria Karstadt Kaufhof: Signa Holding, the heart of René Benko’s business network, combined company shares worth several billion euros. There are probably more than a thousand companies managed by Signa Holding; exact figures are unknown, experts can only make estimates. With Signa Holding, Signa Prime Selection and Signa Development Selection, the three core companies of the conglomerate have gone bankrupt for billions. The opaque connections ultimately led to the fall of the Signa Empire.
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.
