A unit of <-bsp-bb-link state=”{“bbHref”:”bbg://securities/8133156Z%20AV%20Equity”,”_id”:”0000018c-02a7-de26-a7ec-3eb749850000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Signa Prime Selection AG</-bsp-bb-link> filed for insolvency in a Berlin court on Friday, Der Spiegel said, indicating efforts to save the sprawling property and retail conglomerate are faltering.
Signa Real Estate Management Germany GmbH couldnt meet its payment obligations, the German magazine said, citing a request submitted by the company. The firm is a fully-owned subsidiary of Signa Prime, which co-owns the Selfridges department store in London and Berlins KaDeWe, and is itself the largest division in the group founded by Austrian tycoon <-bsp-person state=…
Read the full article at: https://news.bloomberglaw.com/bankruptcy-law/signa-may-file-for-insolvency-on-tuesday-der-standard-says