Financing uncertain

Lamarr project company slides into bankruptcy

(Bild: klemens groh)

The future of what is currently probably Vienna's most prominent shell building is even more uncertain as of today. The project company behind the planned Lamarr department store on Mariahilfer Strasse filed for bankruptcy proceedings with the Vienna Commercial Court on Friday, the creditor protection organizations AKV, Creditreform and KSV1870 announced. 

Due to the insolvency of Signa's flagship Signa Prime Selection, the financing of the completion of the building is no longer secured.

No information yet from KaDeWe as operator 
According to the company register ("WirtschaftsCompass"), the insolvent "Mariahilfer Straße 10-18 Immobilien GmbH" is owned 50 percent each by Signa Prime Capital Invest GmbH and Skyred Holding 9, based in Luxembourg. Signa Prime Capital Invest is a subsidiary of the insolvent Signa Prime Selection AG, while Skyred Holding 9 is an indirect subsidiary of the Thai Central Group. The KaDeWe Group, which also belongs to Signa and Central Group, would have been the intended operator of the Lamarr. For the time being, KaDeWe has not commented on the department store plans in Vienna.