Berlin Prosecutor's Office Investigates Insolvency of KaDeWe and Signa Group

The insolvency case of the renowned Berlin luxury department store KaDeWe and its parent company Signa Group is under intensive investigation by the Berlin Public Prosecutor's Office. Preliminary examinations for potential criminal investigations are currently being conducted, particularly with regard to the insolvency of the Signa Group, which comprises 169 individual companies. While authorities are reviewing documents, allegations are being directed at potential bankruptcy offenses, breach of trust, and subsidy fraud. The Berlin Public Prosecutor's Office will clarify responsibilities to determine which individuals may be considered suspects. The spokesperson for the Public Prosecutor's Office, Sebastian Büchner, stated that it is also a question of whether René Benko should be regarded as the de facto managing director of the Signa Group. "The criminal examination is thus still in its early stages, with an initial review and sorting of documents," Büchner emphasized. The Signa Group, established by Austrian entrepreneur René Benko and encompassing numerous well-known department stores, is currently undergoing insolvency proceedings. Many of these stores are being sold off to reduce the enormous debts amounting to billions. The Munich Public Prosecutor's Office is also involved in the case and is in contact with other German public prosecutors. Moreover, investigations into the insolvency are also underway in Austria.