The Markovo Tepe Mall in the city of Plovdiv has officially declared bankruptcy. Since the beginning of 2010 the mall`s inauguration had been postponed several times. Last year investors in the project stopped repaying a EUR 45 million loan from Austrian Investkredit Bank - the bank financing the project. Thus the bank gained control over the mall.

This is the second case in which the financing bank acquires a mall in Bulgaria. In 2010 an Austrian fund related to Raiffeisen Zentralbank Osterreich gained control over the Varna Mall.