Stock Photo - 29 November 2023, Hamburg: View of Alstertor 5, the former Thalia store, in the city center. Signa Holding GmbH, owned by Austrian real estate and retail entrepreneur René Benko, has announced insolvency proceedings. The group owns numerous commercial properties in Germany and Austria as well as the department store group Galeria Karstadt Kaufhof, which has already been through two insolvency proceedings. In Hamburg, Signa is building the 245-meter-high Elbtower. The project is currently at a standstill. Photo: Marcus Brandt/dpa. - Hamburg/Hamburg/Germany

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