Tue, 13 Mar 2012 | ADMINISTRATION
Market Gates Shopping Centre GY, the company behind Great Yarmouth’s main shopping centre, has entered administration, it has emerged.
The company, which was formerly known as Miller (Great Yarmouth), entered administration earlier in March. Neville Kahn, Robert Harding and Matthew Cowlishaw from Deloitte were appointed as joint administrators by parent company, The Miller Group Ltd.
The shopping centre will continue to trade as normal while the administrators assess the business’s current status and seek potential buyers and investors, according to a statement from Deloitte.
Mr Cowlishaw explained, “We will look to undertake a proactive asset management strategy over a period of time in order to make the development even more attractive to potential investors and occupiers before considering our options further.”
The centre is one of the oldest malls in the east of England, built in 1975, and has 40 stores trading from within the development. An £18.5 million refurbishment was carried out in December 2008 and plans for a second extension to the southern end of the centre was given the go-ahead last year.
It has been reported that the shopping centre was not included in a recent extensive restructuring of The Miller Group Ltd.
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