The parent group of Brown Thomas and Arnotts, Signa, has today filed for insolvency after a last-minute attempt to raise emergency funding failed.
Filing will concern dozens of European banks over their exposure to indebted group.
The owner of Ireland's two largest department stores filed for insolvency in Vienna after attempts to raise โฌ600 million of short-term liquidity failed.
Lenders across Europe race to assess their exposure to sprawling empire of Austrian billionaire Renรฉ Benko.
The parent group also partially owns Selfridges in London. It was previously sold to Signa Holding just last December in a deal rumoured to cost over โฌ4.7 ...