The department store Kotva will be renovated in 2011

Prague - The reconstruction of the Kotva department store in Prague will be completed in 2011, when the alterations will also be made to the exteriors of this once most modern department store in then Czechoslovakia. The general director of Markland Kotva, Jaroslav Petrů, informed ČTK about this today, stating that the department store is being reconstructed while fully operational.
    Petrů did not disclose today how large the investments required for the reconstruction of the Kotva department store will be. "They will be very high. However, Kotva has the potential to become the least visited (retail) destination in the Czech Republic, just as it was in the 70s and 80s," Petrů previously told ČTK.
    Last year, according to Petrů, the entire third floor and part of the first floor were reconstructed and reopened. This year, the work is focused on finishing the first floor and reconstructing the entire second floor. In 2010, the reconstruction of the fourth floor and the ground floor will follow, with the revitalization of the outdoor area of Kotva planned for 2011.
    "The revitalization in the interior is aimed at emphasizing the original architectural concept and unique elements while modernizing the facilities. For the exterior modifications, priorities are cleanliness, greenery, and relaxation zones around the entire department store," Petrů stated.
    The management of Kotva is now negotiating with interested parties about renting the reconstructed spaces. The new tenants of the department store will be announced this fall. "We are now opening a new round of negotiations with potential tenants of the just reconstructed spaces. From our survey, we know that our customers would welcome the expansion of shopping options in Kotva to include sports equipment, a bookstore, and men's casual fashion," Petrů noted.
    The reconstruction of Kotva was initiated after the department store was purchased by the Irish company Markland in 2005. Before the reconstruction, around one hundred shops operated in Kotva. The Kotva department store now competes for customers with the new Palladium shopping center, which is only a few dozen meters away.
    Kotva was opened a quarter of a century ago and was then the largest department store in socialist Czechoslovakia. Visiting Kotva was one of the regular rituals for every visitor to the capital before 1989.