Further Signa companies receive provisional debt-restructuring moratorium
Published: Wednesday, Dec 13th 2023, 17:50
Back to Live Feed
In the wake of the collapse of the Signa empire, three further Signa companies in Switzerland have been granted provisional debt restructuring moratoriums. The companies are also said to hold the interests in the Globus department store group and other luxury department stores.
The Zurich District Court has now granted the three companies Signa European Invest Holding AG, Signa European Invest AG and Signa Retail Luxury Holding GmbH a provisional debt restructuring moratorium, according to information published in the Swiss Official Gazette of Commerce (SOGC) on Wednesday. This means that the companies are protected from debt enforcement proceedings for the time being while they can continue their operations.
As the NZZ writes in its online edition on Wednesday, Signa's investments in Globus, Selfridges and the KaDeWe Group are to be bundled in Signa European Invest Holding. A week ago, Signa Retail Selection, which is also active in the department store sector, had already been granted a debt restructuring moratorium.
No influence on Globus business
50 percent of the Globus department store group is owned by the Signa Group. The other 50 percent is held by the Thai Central Group. A Globus Group spokesperson confirmed to the news agency AWP on Wednesday that the debt-restructuring moratorium of the Signa companies has no impact on Globus' business.
The Thai co-owner, which is backed by the wealthy Chirathivat family, had already reaffirmed its commitment to Globus at the end of November. "The Central Group remains firmly committed to securing and supporting its European luxury businesses regardless of the financial situation of its partners," it said at the time.
Austrian Rene Benko's Signa Group, which has since collapsed, acquired Globus from Migros together with the Central Group in 2020. This included both the department store activities and eight Globus properties in prime locations.
©Keystone/SDA
English 
German 
French 
Spanish 
Arabic