The website and the business activities of Mall.hu have been suspended due to “technical problems”.

NAV said that it was pursuing a criminal organisation that was behind the business.

Mall Hungary, the company that operates the online mall, suffered losses in the range of Ft 900 million to Ft 1.6 billion on revenues of Ft 9-11 billion during 2014-16.

Mall Hungary is owned directly by Dutch company Netretail Holding, which was purchased by Czech investment capital fund Rockaway Capital in 2015.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.