After the Austrian real estate and trading company Signa Holding filed for bankruptcy in the middle of the week, which resulted in the insolvency of the Munich sporting goods retailer SportScheck and a possible sale of Galeria Karstadt Kaufhof, the Belgian subsidiary of the Essen department store group has now reported: Inno is out of the process not affected.
What happens at Signa will have no impact on Inno’s sales or its processes, the retailer said Friday. Since October, Galeria has been preparing to sell its Belgian subsidiary in order to concentrate on its department store business in Germany in the future.
“Inno is healthy and follows an independent course from both Signa Holding and the German parent company Galeria,” said Inno CEO Armin Devender. “Our strategic repositioning over the last few years has achieved its goal. In the 2021-2022 financial year, Inno achieved a positive EBITDA of more than ten million euros and we are also heading for an excellent result for the past financial year.”