Bankruptcy of a shopping centre Sukcesja

By order of 1 April 2020 The District Court for Łódź-Śródmieście announced the bankruptcy of Fabryka Biznesu. The Company owns the Sukcesja shopping and entertainment centre. Creditors may submit their claims within 30 days from 8 April 2020.

The Management Board of the company plans to appeal against the issued decision and will apply for an amendment to the decision on declaring bankruptcy by approving by the Court the conditions of sale of the debtor’s enterprise. The company has acquired an external investor who, in the opinion of the Management Board, will enable further development of the Succession.

The owner of the partnership indicates that the financial problems were caused by construction defects and faults, which came to light after the commercial centre was put into use. This burdened the partnership with many millions of costs. The situation was also worsened by the coronavirus epidemic.

Source: www.propertynews.pl/centra-handlowe/lodzka-sukcesja-w-upadlosci,81797.html.