At the end of November 2023, the Austrian holding Signa, which owns half of the skyscraper, declared bankruptcy and initiated the procedure to sell its stake. According to official information, the company’s debts exceeded 13 billion euros.
In Austria, a bankruptcy trustee has already been appointed to investigate and carry out the bankruptcy procedure, and this trustee has reported difficult progress in the case. As stated, 50 percent of the skyscraper belongs to the RFR group of companies and Signa holding purchased shares for 151 million dollars in 2019.
For reference, the Chrysler Building was built in 1930 by the Chrysler automobile concern. This building was the city’s tallest building (319 metres) until its “record” was broken by the Empire State Building (443 metres).
Source: Ferra
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