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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
The company at the centre of René Benko’s property empire more than doubled its debt in the first nine months of the year, indicating the scale of the liquidity problems facing the group as it tried to stave off financial collapse.
Signa Holding, whose €27bn of assets include department stores Selfridges and KaDeWe, had outstanding liabilities of just under €2bn at the end of 2022, up from €635mn the previous year, according to accounts reviewed by the Financial Times.
By the end of September this year, borrowings had risen to about €5bn, according to the company’s insolvency filing. Signa Holding went…
