Finland’s Ghost Outlet Mall Near Russian Border Hopes for a Fall Sale

A bankrupt Finnish outlet village sitting just a stone’s throw from the Russian border may finally find a buyer this autumn, four years after it closed its doors. The Zsar outlet village, which went under during the pandemic, has been a tough sell ever since. Now, the bankruptcy estate’s administrator, lawyer Matti Manner, says a deal could be wrapped up by early fall.

The main holdup? A lingering tax dispute over VAT deductions claimed during construction. Manner told Finnish broadcaster Yle that the tax authority has now issued its position on the matter, leaving it to buyer and seller to hammer out a resolution. “We’ve received the tax office’s stance,” he said. “The buyer and seller need to find a solution based on that.” The question is who will handle the review and possible repayment of those deductions.

Zsar opened with a splash in late 2018, banking on Russian tourists crossing the nearby border. But within six months, COVID-19 restrictions shuttered the crossing, and the business never recovered. Its owners filed for bankruptcy in late 2022. Despite a 2023 auction that saw the property go for just 70,000 euros, that sale fell through. In the years since, the abandoned complex has become a magnet for urban explorers—stalking the empty corridors and decaying storefronts.