Anniversary of the bankruptcy

Signa house of cards: when Benko lost control

At the end of October 2023, René Benko and his most important advisors were really stressed. It was five past twelve. From a financial perspective. 

Even former Chancellor Alfred Gusenbauer (SPÖ), an important advisor to the financial juggler for years, was working around the clock to calm the Signa Group's co-investors with slogans of perseverance. Too late. The bankruptcy of online retailer Signa Sports United and the halt to construction work on Hamburg's Elbtower were supposed to mark the official beginning of the end of a deliberately convoluted juggernaut.