Ermes Holding, held by Cypriot group Omilos, owner of ERA Shopping City retail park in Iasi, has had access to its bank deposits blocked due to a 250,000 Euro debt, according to ZF.
The sales decline and difficulties in collecting rent are causing increasingly more conflicts between shopping center owners and banks, retailers, and even construction companies, which materialize in insolvency filings and frozen accounts, as is the case of the ERA project in Iasi.
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