The parent company of Magazine zum Globus AG, as the department store group is called, has filed an application for a debt moratorium with the responsible court.
Globus’ operational business is not affected by this procedure.
The company said the move was intended to prevent the Swiss Signa Retail Selection AG from becoming dependent on the insolvency proceedings of its Austrian parent company. It will be decoupled from the parent company and liquidated in an orderly manner.
“Independent of the Signa Group’s insolvency”
“This step enables the board of directors and management, in collaboration with the administrator, to handle the business in an orderly and transparent manner on their own responsibility and independently of the insolvencies of the rest of the Signa Group,” said Board President Christian Wenger in the communiqué.
Legend:
The Globus department stores are under pressure after the Signa Group filed for bankruptcy.
Keystone/Laurent Gillieron
The Board of Directors assumes that it will be able to settle all external liabilities and sell the assets in a well-organized manner and in a structured process over the next few months.
SRF 4 News, November 29, 2023, 9:00 p.m.; apw/hosb;widb
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