The owner of Scotland's largest undercover shopping and leisure destination has gone into administration.
Blair Nimmo and Alistair McAlinden of Interpath Advisory have been appointed joint administrators of Sapphire, owner of the East Kilbride Shopping Centre. The centre comprises more than 150 shops, restaurants, a cinema and an ice rink, but through the pandemic lost a number of large tenants such as Debenhams.
Scoop AM has been appointed as asset manager with Reith Lambert continuing to act in its capacity as property manager. The centre will remain open and all day-to-day operations will continue unaffected by the administration process under the control of Reith Lambert.
READ MORE: Scottish jobs at risk as retailer Joules on brink of failure
The joint administrators said they will work with key stakeholders and advisors in the coming months to enhance the centre and consider the appropriate time to bring it to the market.
“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," Mr Nimmo said.
Mr McAlinden, head of Interpath Advisory in Scotland, 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.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel