The Thai retailer Central Group has been rumored to be considering a takeover of properties from the insolvent Signa company. Among the properties mentioned are the prestigious KaDeWe in Berlin and Selfridges in London. Despite attempts to reach Central Group for comment, the company could not be reached, and Signa’s restructuring administrator declined to provide a statement.
In addition to KaDeWe and Selfridges, the Central Group has shown interest in acquiring the insolvent KaDeWe Group, which includes Alsterhaus in Hamburg and Oberpollinger in Munich. The Thai company already holds a 50.1 percent stake in the group and was planning to operate the Lamarr department store in Vienna. However, construction of Lamarr is currently on hold due to financial uncertainties.
The bankruptcy petition filed by Mariahilfer Straße 10-18 Immobilien GmbH revealed that Signa Prime Capital Invest GmbH and Skyred Holding 9 each own 50 percent of the insolvent company. Signa Prime Capital Invest is a subsidiary of the insolvent Signa Prime Selection AG, while Skyred Holding 9 is indirectly linked to the Thai Central Group. There has been significant interest in the properties due to the insolvency of Signa Prime Selection AG, and completion of construction projects remains uncertain.
