Although the exact extent of the bankruptcy of René Benko’s Signa Group cannot be predicted for the time being, the company is still trying to get out of the affair with external help. To this end, the boards of Signa Prime Selection and Signa Development are now being expanded.
In concrete terms, Signa has brought reorganizer Erhard Grossnigg on board as an additional board member through extraordinary meetings of the supervisory board: Grossnigg has already been elected by the committees as an additional board member, Signa announced in a press release.
Gusenbauer promotes ‘trust’
77-year-old renovator Grossnigg should implement the next renovation and restructuring steps for the two real estate companies. “With this next consistent step, we create further confidence in the current situation,” said Alfred Gusenbauer, former chancellor and chairman of the supervisory board of the two Signa companies, about the new board appointment.
Grossnigg is considered an experienced renovator and is involved in numerous companies in Austria. In recent years his focus has been on medium-sized companies, not on real estate. In 2010, Grossnigg founded Austro Holding AG, which holds investments in Ankerbrot, Bene, Deutz-Fahr, Hali, Gaulhofer, Lohberger, Neudoerfler and Sanders-Kauffmann, among others. Grossnigg is also on board as an investor in ÖBB competitor Westbahn.
The consequences of bankruptcy cannot yet be estimated
Meanwhile, Minister of Economic Affairs Martin Kocher (ÖVP) believes that the consequences of the bankruptcy of Signa Holding cannot yet be estimated. “It is still too early to take stock here,” he said on the sidelines of a press conference on Friday. We simply do not yet know how the various companies within the Signa Group are doing financially, says Kocher, referring to the just opened insolvency proceedings.
In any case, no employees are pre-registered with the AMS early warning system. 42 employees are affected by the bankruptcy.
Nehammer sees “no political issue”
As reported, the top government in Austria considered the Signa case as a purely economic issue in an initial response after the Council of Ministers in Vienna on Wednesday: “I don’t see a political issue, this is a case of insolvency law. said Chancellor Karl Nehammer (ÖVP).
Bankruptcies were part of economic life. It will be important that the financial situation remains stable, Vice Chancellor Werner Kogler (Greens) emphasizes. In this regard, things are looking good, based on what he reads and hears.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
