Two subsidiaries of major European property company Signa have filed for bankruptcy, the company said on Thursday.
Prime Selection AG, co-owner of properties such as the Selfridges department store in London and Berlins KaDeWe, filed for self-administered restructuring in Vienna’s commercial court, while Signa Development Selection – which focuses on residential and commercial urban development projects – would do so on Friday.
Both are part of the now-insolvent Austrian Signa Holding.
“The aim is the organized continuation of business operations within the framework of self-administration and the sustainable restructuring of the company,” the company said in a statement.
Online sporting goods division Signa Sports United filed for in…
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