One of Germany's biggest shopping malls, the A10-Center in Berlin, has been declared insolvent, according to a report in Thomas Daily. Rolf Rattunde, who has been appointed on a temporary basis to lead the insolvency proceedings, said he would do everything he could to keep the 120,000 m[sup]2[/sup] centre, which includes a cinema and bowling alley, afloat. The centre will remain in operation pending the outcome of the proceedings.
One of Germany's biggest shopping malls, the A10-Center in Berlin, has been declared insolvent, according to a report in Thomas Daily. Rolf Rattunde, who has been appointed on a temporary basis to lead the insolvency proceedings, said he would do everything he could to keep the 120,000 m2 centre, which includes a cinema and bowling alley, afloat. The centre will remain in operation pending the outcome of the proceedings.
Rattunde said he would also seek to ensure that the planned EUR 60 mln expansion of the centre goes ahead. Preparatory work started this spring and was due to resume in the autumn. The expansion would result in 10,000 m2 extra sales area.
The A10-Center is owned by a Luxembourg-based special purpose vehicle, A10 Einkaufszentrum Wildau, which is backed by investors from the UK, Ireland and India.
