Berlin’s Building Senator Christian Gaebler is moving away from cooperation with the Signa Group. The SPD politician said on Monday in the Committee for Urban Development, Building and Housing that the declaration of intent signed with the now insolvent company in 2020 was “outdated because the contractual partner is no longer able to act”. Gaebler emphasized that the political goals of the agreement are being adhered to. This applies to the jobs and department store locations that should be secured, explained a spokesman for the Senate Building Administration. The RBB had previously reported.
The controversial agreement between the Senate and Signa was made under Michael Müller (SPD) as Governing Mayor. The real estate group was given concessions for various construction projects in return for the department stores being retained and developed.
On Monday it was announced that the luxury real estate unit of the ailing Signa Group was demanding around 6.3 billion euros. The insolvency administration in Vienna announced that around 2.6 billion of these have so far been recognized in the insolvency proceedings of Signa Prime Selection AG. In addition, there would be previously undeclared claims from other Signa Group companies, meaning the final total would be “substantially” higher than 2.6 billion euros, it said.
Signa Prime’s portfolio includes, among others, the Berlin department store KaDeWe and a number of properties from the Galeria Karstadt Kaufhof department store chain. According to the provisional insolvency administrator, the first purchase offers have been made for the insolvent department store chain. Potential buyers have until March 22nd to submit binding offers. (dpa)