As of: April 2nd, 2024 11:55 a.m The rescue of Galeria Karstadt Kaufhof has become a little more likely. The Essen district court has opened insolvency proceedings for the floundering department store group. The ailing department store group Galeria Karstadt Kaufhof is now in its third insolvency proceedings. The Essen District Court opened standard insolvency … Read more
Munich – Property developers and construction investors in Munich have been able to make big profits for thirteen long years. Apartments and houses are selling like hot cakes, even though real estate prices are constantly rising. Demand remains high as loans are available at very low interest rates. That will be over in 2023. After … Read more
Unicredit Logo. Photographer: Francesca Volpi/Bloomberg A number of banks, especially in Germany, have granted loans to René Benko’s Signa group of companies. This is now becoming increasingly clear. This week the company holding company filed for bankruptcy. In this overview we see which banks were involved and to what extent. It is currently apparent that … Read more
Several cantonal banks are at risk with René Benko’s Globus investment. They have increasingly come into focus since there has been speculation about the survival of Benko’s Signa group of companies. Even the European Central Bank has long since warned the financial industry of risks from the Benko environment. Signa invests in well-known retail brands … Read more