X5 Retail Group warned by DVI Holding

‘X5 Retail Group’s Ural branch is planning to set up Carousel supermarket in KomsoMall Trade & Entertainment Center, but this will only happen in 2010 because of the problems the developer is having at the moment. In fact, DVI Holding started having a hard time as early as last spring, so in May 2009, they warned us about these difficulties,’ Director of X5 Retail Group’s Ural branch’s Alexei Krasnikov reports.

In the meantime, the mall’s developer DVI Ural is now undergoing bankruptcy proceedings.

‘Despite the developer’s recent bankruptcy, X5 isn’t going to give up on its plans. After all, we actually own the area allocated for Carousel supermarket,’ Krasnikov says.


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