Signa Retail Selection AG records another annual loss of 1.394 billion euros: Bad news for Rene Benko
The bad news is currently piling up for René Benko. Tuesday, October 31, 2023 | 6:44 p.m. APA/APA/GEORG HOCHMUTH/GEORG HOCHMUTH Bad news again about the real estate and trading empire Signa around the Tyrolean investor René Benko: As the news magazine “News” reports, according to the annual financial statements as of September 30, 2022, the Swiss Signa Retail Selection AG has an annual loss of 1.394 billion euros in its books, after a loss of 1.194 billion in the previous year. According to the information, the equity amounted to 620 million euros. The long-term debts totaled 4.869 billion euros, the short-term debts totaled 1.074 billion. The annual financial statements of the Swiss...

Signa Retail Selection AG records another annual loss of 1.394 billion euros: Bad news for Rene Benko
APA/APA/GEORG HOCHMUTH/GEORG HOCHMUTH
Der Jahresabschluss der Schweizer Signa Retail Selection birgt laut „News“ insofern Brisanz, als „in der Signa Retail wesentliche Handelsaktivitäten der Signa-Gruppe gebündelt sein dürften“. Eine Stellungnahme von Signa war für die APA kurzfristig nicht zu erhalten.
Das Flaggschiff des Handelsbereichs, die deutsche Galeria Karstadt Kaufhof, „hatte unter Signas Schirmherrschaft zwei Mal binnen dreier Jahre Insolvenz anmelden müssen“. Der deutsche Steuerzahler habe über den Wirtschafts- und Stabilitätsfonds rund 700 Mio. Euro an Staatshilfen lockergemacht.
In der Vorwoche hatte „News“ die Bilanz der Signa Holding zum 31. Dezember 2022 veröffentlicht – publik wurden rund 505 Mio. Euro Verlust sowie ein Anstieg der Verbindlichkeiten von 634 Mio. Euro auf knapp 2 Mrd. Euro.
Von: apa
The bad news is piling up for René Benko and his real estate and trading empire Signa. According to a report by the news magazine “News”, the Swiss Signa Retail Selection AG recorded an annual loss of 1.394 billion euros for the 2022 financial year, after a loss of 1.194 billion euros in the previous year. Equity amounts to 620 million euros, while long-term debt amounts to 4.869 billion euros and short-term debt amounts to 1.074 billion euros.
The significance of Signa Retail Selection's financial statements is that "significant trading activities of the Signa Group are likely to be concentrated in Signa Retail," according to the report. There is currently no statement from Signa on these figures. A well-known company under the Signa Group, the German Galeria Karstadt Kaufhof, has already had to cope with two bankruptcies within three years under Signa's auspices. The German state has provided around 700 million euros in aid for the company through the Economic and Stability Fund.
Recently, “News” also published Signa Holding’s balance sheet as of December 31, 2022, which showed a loss of about 505 million euros and an increase in liabilities from 634 million euros to almost 2 billion euros.
These negative developments could have a significant impact on the market and the financial industry. Investors and business partners could lose trust in Signa and René Benko, which could lead to a decline in investments. In addition, Signa's financial difficulties could have an impact on other companies within the group and the insolvencies of subsidiaries such as Galeria Karstadt Kaufhof could have further negative consequences for the economy and employment.
According to a report by www.suedtirolnews.it,
Read the source article at www.suedtirolnews.it