THE owner of a major shopping centre in Cumbernauld has collapsed into administration, underlining the continuing challenges facing the retail…
THE owner of a major shopping centre in Cumbernauld has collapsed into administration, underlining the continuing challenges facing the retail sector.
Official figures published yesterday showed annual UK consumer prices index inflation had unexpectedly risen by 10.4 per cent in February, up from 10.1% in January. The Bank of England will announce whether its Monetary Policy Committee has voted to increase interest rates at its March meeting today. The base rate currently stands at 4%.
A statement said the administrators had been appointed to take control and work with the management team and property agents to find a buyer for the centre. The centre, which directly employs three management staff, remains open for “business as usual”. A spokesman for the joint administrators noted: “Although the Antonine Shopping Centre is very well occupied, nevertheless it was suffering from challenging trading conditions and administration was the only option.”
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