A creditor’s committee has approved the restructuring plan for One Fashion Outlet, the first outlet center in Slovakia in Voděrady. The owner of the center, Realiz, has one-and-half years to find an investor. The plan must still be approved by the creditors if the center is to avoid bankruptcy. KPMG has been hired to look for an investor. Under the restructuring plan, 50 percent of the unsecured claims will be paid. VÚB bank is the main creditor. One Fashion Outlet opened in October 2013. It cost €30.5m and offered 70 units on 15,000 sqm. The center is 90 percent leased. An additional two phases were planned which would add 21,000 sqm. However, One Fashion Outlet was not able to pay off its debts and posted a €2.78m loss in 2015. Its debt amounts to €14m.
