Fri, 01 Nov 2013 | ADMINISTRATION
The Diamond Centre, a shopping precinct in County Londonderry, Northern Ireland, has been placed into receivership.
The shopping centre is to remain open while Brian Murphy and Michael Jennings, the administrators at BDO, seek a buyer. All 160 staff are expected to be able to retain their positions.
Its owner Valto has also recently entered receivership after having trouble sorting out its finances. Unforeseen bills had absorbed its £3.6 million operating profits for 2012, leaving it with losses instead. The shopping centre is just one of the company’s portfolio of properties.
Bishopsgate Shopping Centres Ltd, of which the Diamond Centre is a part, has been put into receivership as part of a planned restructuring of the Valto group’s business activities, according to BDO.
A spokesperson for the Diamond Centre said earlier this week: “The Diamond Centre has been trading for 11 years and like most retail has been through difficult times.
“The centre experienced closures outside of its control of UK national stores who had gone into administration.
“The joint administrative receivers are confident that there will be keen market interest in the portfolio.”
The Diamond Centre comprises shops including Sports Direct, New Look, Silver Spirit, and features a view of the River Bann from its top floor food court.
____________________________________________________________________________
Related information:
Contact the administrators here
Valto enters administration
The company provides a comprehensive range of contract carpentry services, including joists and roof construction, first- and second-fix carpentry, and timber frame installation, for residential and commercial projects across the south of England.
Quick Sale (not insolvency related) of a soft landscaping & fencing contractor serving blue chip clients on new build developments. Solid order book with Purchase orders and confirmed work to run throughout 2025 and beyond, excellent team with full s...
An exciting opportunity to acquire the business and assets of a well established tech-enabled product and service business that assists employers in preventing workplace incidents, specifically but not limited to oil and gas, manufacturing and emerg...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.