Debt restructuring moratorium for Globus parent company extended
Published: Thursday, Mar 28th 2024, 16:10
Updated At: Thursday, Nov 28th 2024, 07:00
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Signa Retail Selection AG, through which René Benko's Signa conglomerate held its stake in the Globus department store group, was granted a six-month extension of the debt-restructuring moratorium.
The period now ends on June 5, 2025, according to a publication in the Swiss Official Gazette of Commerce (SOGC) on Thursday. Previously, the District Court of Zurich had granted the debt-restructuring moratorium until December 5, 2024. The company itself had requested the extension of the deadline. However, it is common for debt-restructuring moratoriums to be extended if necessary.
Signa Retail Selection AG, the parent company of Galeria Karstadt Kaufhof, is based at the Globus headquarters at Bärengasse 29 in Zurich. Benko held his Globus share of 50 percent via a subordinate company called Signa European Invest Holding AG. The other 50 percent is held by the Thai Central Group.
At the end of September, it was announced that the Central Group was taking over the entire operating business of the Globus department store chain. However, the future of the Globus properties has remained open ever since.
©Keystone/SDA
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