LONDON - KaDeWe Group, which operates some of Germany's oldest and most prestigious department stores, has filed for administration due to rising rents and the collapse of its co-owner Signa Holding.

The arrest of Rene Benko on Thursday marks a new low for the Austrian property magnate following the collapse of his business empire, Signa Holding.

Austrian property tycoon Rene Benko's empire, Signa Holding, collapsed amidst legal troubles and massive debt. After declaring insolvency, Signa's assets faced selloffs and subsidiaries went bankrupt.

KaDeWe - a shopping paradise for Berlin's elite. Four ambitious young friends come of age in the 1920s - a time of opportunity and opulence. But storm clouds are gathering ...

The arrest of Rene Benko on Thursday marks a new low for the Austrian property magnate following the collapse of his business empire, Signa Holding. Benko, 47, who has previously denied wrongdoing, ...