A SCOTTISH shopping centre has called in the administrators months after closing its doors in a shock announcement.
St Giles Centre in Elgin is looking for a “meaningful way forward” after shutting down on January 20, provisional liquidators from advisory firm Interpath said.
The shopping centre – which was home to a WH Smith, Waterstones, The Works, Subway, O2, EE, Vodafone, Argos, and Ramsdens, among others – had been running for 33 years before announcing it would be shutting on January 8.
The short notice led to criticism from SNP minister and local MSP Richard Lochhead, who said it was “unrealistic” to give just 12 days’ warning of plans to shut down.
“Businesses can’t be expected to deal with the staffing and stock issues caused by closure in such a short period of time,” he said.
The Northern Scot previously reported that St Giles Shopping Centre owes as much as £750,000 in unpaid non-domestic rates to Moray Council, over which legal action is being taken.
The company was the operator of the St Giles Centre in Elgin, which is owned separately by a company which is not subject to insolvency.
Alistair McAlinden, head of Interpath in Scotland and joint provisional liquidator, said: “The recent closure of the St Giles Centre is emblematic of the challenges facing high streets and shopping centres up and down the UK.
“Tough trading conditions coupled with fragile consumer confidence and increasing overheads are putting enormous amounts of pressure on operators, with a number of shopping centres unfortunately having no option but to close in recent times.”
James Dewar, joint provisional liquidator, added: “As a matter of priority, we will be working closely with all stakeholders, including the centre’s owner and Moray Council in its dual-capacity as a major creditor and a key stakeholder in the ongoing development and regeneration of Elgin, to find a meaningful way forward for this important site in the town.”
