The completion of the construction work and the opening of the department store was planned for the end of 2025. However, according to Crteditreform, due to the Signa Group’s crisis and, in particular, the restructuring process of Signa Prime Selection, financing for completion is no longer assured.
According to the company register (“WirtschaftsCompass”), the insolvent “Mariahilfer Straße 10-18 Immobilien GmbH” is owned 50 percent each by Signa Prime Capital Invest GmbH and Skyred Holding 9, based in Luxembourg. Signa Prime Capital Invest is a subsidiary of the insolvent Signa Prime Selection AG and Skyred Holding 9 is an indirect subsidiary of the Thai Central Group. The KaDeWe Group, which also belongs to Signa and Central Group, would have been the intended operator of the Lamarr.