Signa Prime Selection AG: New board prevents bankruptcy!

Signa Prime Selection AG: New board prevents bankruptcy!

Laimgrubengasse 10, 1060 Wien, Österreich - On March 12, 2025, the Signa Prime Selection AG (SPS) Markus Beuchert appointed Markus Beuchert as the second board of directors of the company. Together with Klemens Wandl, he will form the management team of the PLC. Beuchert has extensive experience in management, especially in the company organization and structured handling. He takes over the successor of Herwig Teufelsdorfer, who leaves the company mutually, and his experience is considered essential support for the ongoing and upcoming recycling and liquidation measures of the SPS, as APA-OTS reported .

In the background of this personnel change, there is an bankruptcy application that Signa Prime Selection AG made on December 29, 2023 at the Vienna Commercial Court. This happened in the context of a renovation process with self -administration, which means that existing corporate management continues to have an impact on the restructuring process. According to Peugeot Invest , these steps are part of the reaction to a liquidity crisis that occurred in the second half of 2023, reinforced by the stop of significant projects and tightened market conditions. Both companies - Signa Prime Selection AG and Signa Development Selection AG - have difficulty fulfilling their payment obligations, which led to the initiation of the procedure.

As part of the insolvency proceedings, an orderly recovery of the SPS real estate portfolio and the liquidation of the group structure is sought. The legally appointed administrator Norbert Abel acts as a central player to maintain the interests of the creditors and to ensure the continued existence of the company.