Popoviciu loses Tiago Oradea unless he comes up with 30.5m-euros within a week

Businessman Gabriel Popoviciu, who in June won the auction to acquire bankrupt Tiago mall in Oradea through Shopping Center Holding, has yet to pay the 30.5 million euros for the asset, with the deadline being August 18th.

“We have no reasons to worry for the time being. The winners need to pay the amount by August 18th and we have no reason to believe they won’t,” said Andrei Cionca, partner with Casa de Insolvență Transilvania (Transilvania Insolvency Firm), liquidator of MLS Proiect, which has the bankrupt mall in its portfolio.
Until recently, Popoviciu’s involvement in the Tiago Oradea business was uncertain. However, according to market information, after winning the auction the billionaire started to look for companies willing to open stores within the Oradea mall, offering them good terms, but retailers have not rushed to sign contracts in the mall that went bankrupt precisely because of the lack of tenants.
The situation is further complicated by the fact that the auction to sell the mall was challenged by the former owners of shopping centres Euromall Pitești and Euromall Galați, which had been disqualified before the auction.