Other German Signa subsidiaries file for bankruptcy

Further German subsidiaries have filed for bankruptcy at the ailing real estate and trading group Signa owned by the Austrian investor René Benko.

Signa Financial Services GmbH, based in Frankfurt/Main, Signa REM Germany Rent GmbH and SCAx GmbH (both Munich) submitted corresponding applications to the Berlin-Charlottenburg district court on Wednesday, according to court announcements. The Berlin lawyer Torsten Martini was appointed as the provisional insolvency administrator in all three cases.

The holding company Signa Holding had previously applied for restructuring proceedings under self-administration. The real estate and trading group consists of a complex network of companies with several hundred individual companies. (dpa)