Chiang Mai mall shuts down, couldn’t afford 20m baht electricity bill

Tenants and staff were in shock after a mall in Chiang Mai suddenly announced its temporary closure due to the economic fallout from Covid-19. Or is it economic mismanagement?

Thai media reported that the center was over 20 million baht in debt on electricity bills and had to close immediately as they were unable to pay the bill.

Today, Promenada Chiang Mai Mall sent an official letter to every tenant and store stating that the mall will temporarily close from today. Thai media reported that staff at each store were shocked as they received no advance warning and even opened their stores as usual yesterday. The mall representative also advised each store to close and get their stuff out within 2-3 days as the electricity would be cut off very soon.

The management company that runs the mall, ECC Chiang Mai Company, complained of being badly affected by the effects of the Covid pandemic and had been trying to manage the situation for over 2 years now.

The Center also attempted to retain each tenant by lowering rental fees or waiving rent for a few months, but the company was unable to earn enough to cover its costs. The statement ended by saying the board was sorry for the situation and “would like to thank all partners for joining the company.”

According to Khaosod, the mall was unable to pay its electricity bills for many months, racking up a debt of nearly 20 million baht. Last month, electricity cost them 5 million baht and the Provincial Electricity Authority ordered them to pay their emergency arrears.

THE SOURCE: Khaosod


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Peggy P. Gilmore