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The signa sports thing didn't get 150 million financing that was promised from the parent group, so I'd say it's connected?
From what I read but can't find the article anymore, they (the signa sports stuff) burnt a lot of money trying to build some tennis experience thing community app called tennis pro.
Plus the bad numbers in cycling.Signa sold their biggest building project that's under construction (mynd, a high rise on Alex) in Berlin in June, and today it was announced that the new owners canceled the contract with signa to build the thing.
All ongoing building works in Berlin are also stopped, be it under construction or projected.
I am quite happy our council fought the nearest project Karstadt am Hermannplatz, and took a big plot nearby that benko had already bought back quite a while ago.
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c.h.e.
Does anyone know whether the Wiggle administration (triggered by the removal of the credit line from Signa Sports United) is linked to the slow unravelling of the broader Signa group run by suspected fraudster Rene Benko? They're definitely the same overall group but I can't see any commentary online about whether Wiggle have been caught up in the storm engulfing the (mainly property led) group rather than necessarily to do with the downturn of the cycling industry
https://www.ft.com/content/b3590f90-f446-4ac8-ad73-0cad54790c56