Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 24 January 2006, Union Investitii group announced that in May 2006, it is set to begin the construction of the second mall-type shopping complex in Romania, to be known as Euromall Galaţi.
Located in Galaţi (Sud-Vest region, Galaţi county), the shopping centre will require an investment of over €40 million and will create 3,000 new jobs.
Euromall Galaţi will cover 50,000 square metres, distributed over five storeys, of which 24,000 square metres are for rent. The main attractions will include a 2,500 square metres supermarket, an additional 220 shops, a pharmacy, restaurants, coffee-shops and an entire storey dedicated to entertainment. The latter will include seven cinema halls, bowling alley, and casino and billiards room.
In addition to the shopping space, the upper storey of the complex will house class A offices covering 4,000 square metres.
Euromall Galaţi will be completed in November 2007. Investors estimate a turnover of about €5 million for the first year of activity.
In September, the French Union Investments group has started to build the second Romania Euromall shopping centre in Galaţi (county Galaţi, South-East Region).
The total investment is evaluated at EUR 40 million, of which EUR 2.5 million representing the land.
According to Bernard Braka, the project manager, statement "Euromall Galaţi will create more than 3,000 new direct and indirect jobs (‘)."
Eurofound (2006), Euromall Galaţi, Business expansion in Romania, factsheet number 63032, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63032.