Sports e-commerce company Signa Sports United (SSU), controlled by Austrian investor René Benko’s Signa Holding, has filed for insolvency. The Bielefeld District Court, where the application was filed, appointed Munich-based lawyer Christian Gerloff as insolvency administrator.
The German business newspaper Handelsblatt was the first to report the insolvency filing, which comes at no surprise after the turmoil following SSU’s delisting from the New York Stock Exchange and Signa Holding’s withdrawal of €150 million in SSU financing earlier this month.
The first brand that fell victim to the financial problems was Tennis-Point, followed by Internetstores, which includes bicycle retailers such as fahrrad.de, Probikeshop and Brügelmann. Gerloff was already appointed administrator for these insolvencies.
