Bankruptcy of GH Group’s Belgian branch major blow to retail real estate sector

The bankruptcy of the 21 Belgian companies belonging to GH Group, Gérald Hibert’s real estate empire, is now virtually inevitable. The Belgian real estate industry is watching the impending collapse with bated breath, as many iconic retail locations are involved.

Galerie Louise

The Belgian branch of GH Group is finally heading toward bankruptcy, now that the Brussels Court of Appeals has declared the application for judicial reorganization inadmissible, according to De Tijd. Together, the companies represent a real estate portfolio worth approximately 400 million euros, with properties in prime locations in Brussels, Antwerp, Ghent, and Bruges, among others.