Dear Insiders,
Today we are moving between highs and lows: the mega-bankruptcy of Signa Holding, to which tourist magnets such as hotels or shopping malls are falling victim, frowning at the new non-Adina brand, rejoicing for Portugal, swallowing at the global decline in property values...
In 2019, on the fringes of the MIPIM, I had the opportunity to photograph René Benko's 62-meter-long super-yacht in the port of Cannes. It had all the charm of a warship. Now, the insolvency of his Signa Holding could become the biggest bankruptcy in Austria's history. The administrator is forcing the billionaire out of hiding by, among other things, rigorously selling off his lifestyle assets and cutting private luxury spending.
