Signa Holding

"competent. In Switzerland, Benko early wins over Ernst Tanner, who has made Lindt & Sprüngli a globally known chocolate brand. The Swiss family Eugster, who have made a lot of money with coffee machines and other household appliances, will finally become one of Benko's most important investors with a 10 percent stake in Signa Holding."

"That Benko himself did not pivot in 2022 or 2023 and tried to at least save parts of the business with a radical cut may be surprising from the outside. But for nerve-strong financial artists like him, this is typical. Eventually, they believe their own narratives. Or they can no longer turn back. Even after the first major bankruptcy, that of Signa Holding in November 2023, Benko spread confidence that a financier would soon be found. Day by day he was on the phone or jetted to a potential financier worldwide. Even in January 2024, he still said that he had a new investor on the line; there were just a few details to clarify over the weekend…"

"In 2019, Signa acquires the retailer SportScheck from the Otto Group. The idea had been to merge Karstadt Sports and SportScheck as a counterforce to Decathlon and Intersport. They believed Benko could do it, says a participant from back then. As a dowry, Otto gives Signa a buyer loan, a double-digit million amount, for which Signa Holding and Signa Retail guarantee."