Fri, 06 Aug 2010 | ADMINISTRATION
The company behind a North Tyneside shopping centre has entered receivership, leaving traders having to reassure their customers that they will be carrying on, business as usual.
CPI Retail Active Management Programme (CReAM), which funded Wallsend's Forum Shopping Centre, entered into receivership on Tuesday night. Centre manager, Tony Donnelly, urged traders to "keep calm and carry on," but many feared what the status would mean for the long-awaited regeneration of Wallsend.
Secretary of the Chamber of Trade, Gill Ruffles, who owns Maple Textiles in Wallsend, said many tradespeople were hoping the centre would be bought by someone with high hopes for the town.
"It could be a good thing, because it could get bought by someone who really wants to improve Wallsend and make a centre full of bespoke shops that people want to come to," she said.
"We need a social hub, they cannot flatten it to put a car park there."
Commercial property company, Jones Lang LaSalle, has assumed the centre's management from Stockland UK, along with four connected centres – Fareham's Locks Heath Centre, Central Square in Birmingham, Bramley Shopping Centre in Leeds, and West Sussex's The Martlets Shopping Centre.
Nigel Wheeler, chairman of property and asset management, said: "Our regional retail management teams will be working with the centre management staff over the coming months to improve customer experience at each centre, as well as driving forward a number of important asset management initiatives."
A highly reputable and profitable motor vehicle dealership located in Cheadle, Staffordshire. This family-run business with over 40 years of experience has built a strong reputation for quality and reliability.
LEASEHOLD
Renown Italian bar and restaurant that has been delighting patrons for the past decade. The restaurant has become a beloved local institution, known for its warm ambiance, exceptional food, and superb service. This thriving establishment offers a uni...
LEASEHOLD
This is a highly profitable and well-established enterprise specialising in construction and scaffolding services. With a sterling reputation built over years of dedicated service, the vendor has become a go-to provider for both residential and comme...
19
|
Sep
|
Xeinadin announces 26th acquisition in two years | BUSINESS SALE
Professional services group Xeinadin has completed its 26th ...
19
|
Sep
|
Food and drink firm acquired by founding family | BUSINESS SALE
Aimia Foods Limited, a food and drink manufacturing company,...
18
|
Sep
|
Online travel business completes third investment in 12 months | BUSINESS SALE
Online travel business Travel Seen has acquired a majority s...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.