The Bucharest Court has yet to decide on a date to try the case.
It is Bel Rom’s third realty project in Romania which might enter insolvency, after those in Craiova (southern Romania) and Focsani (eastern Romania).
Hello Shopping Park’s tenants include Real hypermarket, Baumax, Altex and Staer. The retail park was built on a land plot of over 100,000 square meters, of which the built surface covers 51,100 sqm. It was opened in 2008 and it is the largest shopping park in Bacau which engulfed EUR60 million.
Hello Shopping Park is the fifth retail park Bel Rom Real Estate has inaugurated in Romania. Initially, it was called European Retail Park.
Bel Rom Cinci SRL had debts of around 200 million lei (EUR45 million) at the end of 2011.
Bel Rom Sapte, which owns shopping center Promenada Mall in Focsani and previously held shopping mall Electroputere in Craiova, entered insolvency in June.
Bel Rom group also developed retail projects in Sibiu, Targu-Mures and Braila, which it sold between 2007 and 2009.