René Benko: Signa founder's private family foundation is insolvent. A corresponding application was submitted to the Innsbruck Regional Court.
The foundation directly and indirectly owns a large share in the insolvent Signa Holding. The Austrian “Standard” had previously reported that the foundation's ability to pay and restructure depended heavily on whether and how Signa itself could be restructured. It is now the aim of the board of directors to implement the further measures or necessary steps together with the insolvency administrator.