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 has more than 150 shops plus restaurants, a cinema and an ice rink, but lost a number of large tenants such as Debenhams during the pandemic.
Scoop AM has been appointed 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.
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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.
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