The Austrian investor Georg Stumpf takes over an unfinished department store in Vienna from the insolvent construction and trading group Signa. The Stumpf Group announced the acquisition of the “Lamarr” project in one of the city’s most important shopping streets, which was originally planned as a luxury department store along the lines of KaDeWe in Berlin. The responsible insolvency administrator and the new owner remained silent about the purchase price. The contract still needs to be approved by the bankruptcy court, it said.
According to the original plans of the Signa Group of the Austrian entrepreneur René Benko, a department store in Lamarr was to be operated by the KaDeWe Group. In addition, a hotel was to be housed in the building. The Stumpf Group did not initially comment on future use. A concept is now being developed together with the city of Vienna, it was simply said.
KaDeWe was also part of the Signa portfolio. The Thai conglomerate Central Group has now taken over the operations of KaDeWe in Berlin, Alsterhaus in Hamburg and Oberpollinger in Munich. Questions about a possible role in Lamarr were not immediately answered by Central Group.