Tue, 03 Dec 2013 | ADMINISTRATION
The Oak Mall, a shopping centre located in the Scottish town of Greenock, has entered administration.
A statement regarding the Inverclyde business was issued explaining that a "refinancing agreement" was behind the push into administration.
But while things are up in the air with regards to ownership and organisation at the mall, managers have insisted that business will continue as usual during the busy Christmas period. Mall boss Claire Jefcoate commented: "It's just due to refinancing. This is a very vibrant and busy shopping centre. There could possibly be a change of ownership in the coming months."
She added that although she could not guarantee that the Oak Mall would remain open, she thought it an unlikely scenario: "There have been other centres that have gone into administration and come out of it. That's what we foresee happening here."
The tenants in the mall have been informed of the background with regards to the situation and Ms Jefcoate said that she wants to reassure tenants and customers that the administration will "not impact on the centre in any way".
The mall business could be up for sale in the near future as bosses seek to keep the company going through the change in finance.
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