November 19, 2012
Brandboxx Hannover in bankruptcy
On Monday, November 19, 2012, the Civil Court of Utrecht declared Brandboxx Ventures Hannover BV bankrupt. The Board of Brandboxx Ventures Hannover BV filed for bankruptcy in consultation with the administrators who were appointed to TCN UROP SE earlier this month, LLM J. Westerhof of Holland Van Gijzen Lawyers and Notaries and LLM A. van der Schee of Van Benthem & Keulen Lawyers & Notaries.
The administrators were appointed insolvency receivers. Brandboxx Hannover is part of an international network of Brandboxx centers. The other Brandboxx centers, in Leusden and Salzburg, are not affected by Brandboxx Ventures Hannover BV’s bankruptcy.
Background information
Brandboxx Hannover is a 19,000 sqm purchasing and information center for retailers in fashion, sports, lifestyle and shoes. It also include a 3,000 sqm Expo and Business center. Brandboxx Hannover BV had been looking for solutions for the financing deficits on the project for quite some time.
Brandboxx network
Brandboxx Hannover is part of an international network of trade centers under the formula "Brandboxx" with a focus on fashion, sports and shoes. All centers make use of the many years of development and management experience TCN has in the field of trade marts.
TCN
TCN has been active in the European real estate market since 1994 and holds an asset portfolio with a value of € 410 million. TCN has projects in the Netherlands, Germany, United Kingdom, Spain and Austria.
More information:
For further information about TCN, please visit our website www.tcnpp.com.
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