Cocor shareholders delay opening to May or September, pending on leasing activity

Cocor Bucuresti, the Bucharest Stock Exchange listed firm which owns Cocor store in Bucharest, is planning to re-open the store either in May this year, or in September, pending on the level of leases it managed to sign until then. Cocor store was closed down for renovation mid-2008 and was initially scheduled for reopening in November last year. The owners are expecting an 85 percent lease occupancy before opening the store, which will be called Cocor Luxury Store. The investment budget for the renovation project was of EUR 26 million. The firm has also approved a decrease of EUR 1 million to a banking loan, down to EUR 18 million, and a different loan reimbursement program.