Businessman Iulian Dascalu, the biggest owner of shopping malls, with four Iulius Malls opened in Romania, says that he is also reeling from the retail crisis, having been forced to cut the rents for some tenants.”The first six months of the year were the toughest. The crisis started in retail as early as spring, and in February-March we also cut rents for a series of tenants, by 20%, in all the four malls, particularly in those of Moldova area,” Iulian Dascalu, who also owns malls in Cluj and Timisoara.
