Signa Holding news and archive

Restructuring plan of Signa Holding GmbH deflects into bankruptcy

Signa Holding GmbH, long-time co-owner of the Selfridges Group, is turning its insolvency proceedings into bankruptcy, the company announced in a press release. The restructuring plan is thus withdrawn. What the bankruptcy means for Belgian department store Inno is not yet known. The focus of the restructuring plan was mainly on the value-based...

Business

Two Signa subsidiaries file for insolvency, Selfridges seeks financing

Two key subsidiaries of the already insolvent Signa Group have filed for bankruptcy in what is the latest development in the downfall of the international retail empire. Both Signa Development Selection and Signa Prime Selection filed for insolvency last week, with the latter – a stakeholder in Selfridges and KaDeWe – believed to have already...

BusinessFeatured

Weston family completes sale of Selfridges

The billionaire Weston Family has completed its sale of Selfridges Group to a Thai and Austrian joint venture. Last year, the Weston family agreed to sell the business to Thailand’s Central Group and Austrian-based property company Signa Holding, with each company taking a 50 percent stake. As well as owning the iconic Selfridges department...

BusinessFeatured

Iconic retailer Selfridges sold to Thai and Austrian joint venture

The Canadian billionaire family behind the revamp of Selfridges have sold the iconic department store to a Thai and Austrian joint venture. The Weston family sold the British store chain to Thai conglomerate Central Group and Austrian Signa Holding, who each own 50 percent. The group’s other retail division, which includes Arnotts and Brown...

Business

Signa Group raises 1.2 billion euro in equity

The Austrian retail and real estate group Signa Holding GmbH executed a capital increase of 700 million euros (around 775 million US dollars or 622 million British pounds) by its existing shareholders last week. Moreover, its largest subsidiary Signa Prime Selection AG, as the flagship real estate company of the Signa Group, will execute a 500...

Business

Signa sells kika Eastern Europe to XXXLutz

Austrian real estate company Signa Holding GmbH announced on Friday that it has sold the Eastern European business of its furniture chain kika to Austrian online furniture retailer XXXLutz. The Eastern European business operated independently of the Austrian core business, which will profit from the proceeds of the sale. The sale includes both...

BusinessFeatured

HBC merges its European business with Signa’s Karstadt

Hudson’s Bay Company (HBC) has entered into definitive agreements with Signa Retail Holdings, to form a strategic partnership for its European retail and real estate assets. The development would see HBC Europe's retail operations merge with Signa's Karstadt Warenhaus GmbH, with HBC taking a 49.99 percent interest in the combined businesses....

Business |UPDATE

HBC refutes media reports suggesting finalisation of Signa JV

Hudson’s Bay Company has clarified through a statement that contrary to recent reports it has not signed a binding agreement to sell or combine its European business or properties. Media reports suggested that it has entered into a deal to sell half of its European business to Austria’s Signa Holding. The reports stated that development would...

Business

Hudson’s Bay to sell half its European business to Signa - report

Hudson’s Bay Company (HBC) and Austria’s Signa Holding have signed a deal that would see HBC selling around half of its European business to Signa. The development would bring two major German department store chains Kaufhof and Karstadt together, reports Reuters quoting German magazine WirtschaftsWoche. A “proposed merger of equals for the...

Business

HBC in talks with Signa for Kaufhof JV

Hudson’s Bay Company (HBC) is said to be in talks with Austrian property and retail group Signa Holding GmbH to form a joint venture for its German retail chain Kaufhof, reports Reuters quoting sources familiar with the development. Canada-based HBC had earlier rejected Signa’s 3 billion euros (3.7 billion dollars) bid for Kaufhof earlier this...

Business

Hudson’s Bay Company rejects Signa offer for its German business

Hudson’s Bay Company (HBC) has announced that after a review and consideration conducted in consultation with financial and legal advisors which included an in-person meeting with Signa Holding GmbH and its advisors, the company’s board of directors has unanimously rejected the unsolicited proposal to acquire the German business and related real...