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August 5, 2021

No investor for City Mall after the second bid

No investor was interested by Bucharest-based City Mall, now in bankruptcy procedures, at the second auction set for April 20, so the liquidator appointed by court, ‘Casa de Insolventa Transilvania’ (CITR) will discuss with creditors about alternate methods of dealing with the asset, one of them being to keep it in exchange for the debt, Mediafax reports. The deadline for buying the documentation of the bid was April 18. The starting price in the second bid for City Mall was set at EUR 29.5 M, down from EUR 33 M in the first bid on March 31, when no investors showed up. “We’ll meet the creditors this week to decide the next move. We might even decide not to sell the mall at all, keep it in exchange for the debt, or attempt a new bid,” said CITR partner Radu Lotrean.

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