Rene Benko’s wild ride at the helm of Signa
Lots of real estate bought with cheap money, problems ariving……and then the tell:
Early backers included the diamond dealer Benny Steinmetz
Ah, yes, the wheels were going to come off that one then.
Buying lots of real estate with cheap money could well work, of course. As long as te debt was paid down before interest rates rose. That means calling a halt to expansion. Which isn’t what happened and isn’t what we’d expect to happen given that involvement – according to my prejudices anyway.