Globus CEO does not see group jeopardized by Signa insolvency
Published: Tuesday, Dec 5th 2023, 15:01
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According to CEO Franco Savastano, the Globus department store chain is in no way at risk despite the insolvency of the Signa Group. Liquidity is secured and the operating business is running well, said the Globus boss on Tuesday in the TV program CEO Talk on the regional channel "Tele Züri" (advance report).
According to Savastano, Signa's problems are more of a "shareholder issue". The Thai Central Group, the second shareholder alongside Signa, is "fully behind Globus". He is also very confident that a solution will soon be found for the Signa share.
Nor does the Globus CEO want to know anything about an alleged withdrawal of suppliers. "We have had close relationships with our suppliers for decades and they have stuck by us." The renovation work on the Globus store at Zurich Bellevue will also continue and the store is scheduled to reopen in fall 2024.
René Benko's now insolvent Signa acquired Globus together with the Central Group from Migros in 2020. The deal included both the department store activities and eight Globus properties in prime locations.
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