Belgian outlet centre Maasmechelen Village has been around for 13 years and attracts 3 million visitors a year, but has stacked up one loss after another. It now has a 236 million euro debt.
Commercial success, financial disaster
Commercially, Maasmechelen Village is a great success, with 19,700 sqm of stores and more than 3 million visitors a year. Turnover also kept growing, up to 19.5 million euro per year.
Financially, Maasmechelen Village had a 19.1 million euro loss in 2013 and in total, it now has 236 million euro in debt. The numbers do not worry the company as it is focused on the long-term strategy and the current debt does not represent the actual strategy.