Scotland’s largest undercover shopping and leisure centre has gone into administration - just weeks before Christmas.
Lanarkshire Live can exclusively reveal that the owners of EK, East Kilbride - Sapphire - have become insolvent, plunging the future of the centre into uncertainty.
It follows a series of difficult years for the centre, which has struggled to retain existing, or attract new, businesses to the town.
However, it is understood that traders within the centre have been told it is “business as usual” as Sapphire try to attract a new buyer.
Blair Nimmo and Alistair McAlinden of Interpath Advisory were appointed joint administrators at the Court of Session in Edinburgh earlier this week.
Mr Nimmo told us: “While the challenges facing the UK retail sector are well known, the East Kilbride shopping centre has remained a popular shopping and leisure destination, and continues to attract well-known names including the likes of Matalan which opened its new store earlier this month.”
Pitching to prospective buyers, the centre’s website boasts of “over 150 brands, from big fashion labels to everyday essentials”.
It hosts the town’s cinema, with the impressive Odeon Luxe a big sell for bosses hoping to attract new buyers.
It also boasts a number of places to eat and drink, as well as a well-used ice rink and much more - including the town library.
Mr McAlinden added: “As we enter the important festive trading period, our priority is to consider the most appropriate strategy to preserve value in this important retail destination.”
Scoop AM has been appointed as asset manager with Reith Lambert will continue to act in its capacity as property manager of the centre.
The Centre will remain open and all day-to-day operations will continue unaffected by the administration process under the control of Reith Lambert.
Working with key stakeholders and advisors, over the coming months the Joint Administrators will take steps to enhance the Centre and consider the appropriate time to bring to the market.
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