Signa Real Estate confirms bankruptcy in employee letter
The letter, obtained by the magazine, outlined that Signa REM Germany informed its staff about the commencement of insolvency proceedings.
- Republic Business
- 1 min read
;'%3e%3cpath%20d='m8,15.99c4.41,0,7.99-3.58,7.99-7.99S12.41,0,8,0,0,3.59,0,8s3.58,7.99,7.99,7.99Z'%20style='stroke:%23fff;%20stroke-miterlimit:10;%20stroke-width:.02px;'/%3e%3cpath%20d='m3.08,3.37l3.82,5.11-3.84,4.15h.87l3.37-3.64,2.72,3.64h2.94l-4.04-5.39,3.58-3.87h-.86l-3.1,3.35-2.5-3.35h-2.94Zm1.27.64h1.35l5.97,7.99h-1.35l-5.97-7.99Z'%20style='fill:%23fff;'/%3e%3c/g%3e%3c/svg%3e){kind=small}
Signa Real Estate Management has officially acknowledged its bankruptcy filing in a communication to employees on Friday evening, as reported by German magazine Wirtschaftswoche on Saturday.
The letter, obtained by the magazine, outlined that Signa REM Germany informed its staff about the commencement of insolvency proceedings. The court filing was initially reported by Der Spiegel at the Berlin Charlottenburg district court on Friday.
Signa has chosen not to provide comments when approached by Reuters. According to the communication, a provisional insolvency administrator is expected to be appointed by the local court shortly.
Advertisement
(With Reuters inputs)