Austrian real estate investor and billionaire Rene Benko wrote off the expected benefits of a merger with cycling retailer Wiggle Group before injecting more capital into his troubled sports retail business.
The sports retailer Signa Sports United booked a €566 million ($605 million) loss in the year ending September, in part due to a €244 million impairment on goodwill related to the purchase of cycling retailer Wiggle, according to the annual report of Signa Sports United published Tuesday.
