The wave of bankruptcies continues to eat through the ailing Signa Group.
According to the Austrian creditor protection association KSV1870, the two Vienna-based subsidiaries Signa Real Estate Management GmbH and Signa REM Transactions GmbH have also filed for bankruptcy since the beginning of the week.
Both companies are service companies within the Signa Real Estate Group, the association explained. They therefore provided services for the group companies Signa Prime Selection AG and Signa Development Selection AG, which had been insolvent since the end of December, as well as their group companies.
According to KSV1870, the two companies now affected by bankruptcy are not planning any restructuring and intend to cease their business operations.