Pendle Town Council has announced that Colne Precinct in Lancashire has fallen into administration.
The ownership of the public space on Market Street, which houses a Fulton Foods store, a Tesco Express and Noble’s Amusements, is now expected to change.
A spokesman for Pendle Council told the Lancashire Telegraph, “We’ve been made aware that Colne Precinct has gone into administration. The public space we have improved is managed by Liberata and, although ownership will change, the agreement should still stand.”
Following the confirmation of the administration, Colne Town Council has requested that the ongoing situation be discussed at the next Colne Committee meeting, which is due to take place in the town on 11 August this year.
Back in 2008, when work on the Colne Precinct - the £150,000 landmark project to revamp Colne town centre's public precinct – was underway, it was described as a ‘town joke’ thanks to numerous delays and problems with its development.
The project ended up going over-budget and overran by around four months, angering local townspeople.
