The owner of East Kilbride Shopping Centre has filed for administration.
Luxembourg-based shell company Sapphire owns Scotland’s largest undercover shopping and leisure destination - comprising over 150 shops, several restaurants, a cinema and an ice rink - and appointed Interpath Advisory on 16 November at the Court of Session in Edinburgh.
Scoop has been appointed as asset manager, with Reith Lambert continuing to act as property manager of the centre.
It will remain open and all day-to-day operations will continue unaffected by the administration process.
Working with stakeholders and advisors, over the coming months the administrators will aim to enhance the centre and consider an appropriate time to bring to the market.
Blair Nimmo, chief executive of Interpath and joint administrator, said: “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.”
Alistair McAlinden, head of Interpath Advisory in Scotland and joint administrator, 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.”
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