Owners of Great Yarmouth’s Market Gates shopping centre has gone into administration
Fresh evidence of the pressure facing the high street has emerged today after the firm behind Great Yarmouth's Market Gates Shopping Centre went into adminstration.
Market Gates Shopping Centre GY – which was formerly known as Miller (Great Yarmouth) – went into administration earlier this month, with Neville Kahn, Robert Harding and Matthew Cowlishaw of Deloitte named joint administrators for the company.
No reason has yet been given for the collapse and it is not clear what effect it will have on the 40 stores trading from within the development.
The move means that a buyer will now be sought for the company, which was owned by Edinburgh-based Miller Developments until ownership was transferred to Bank of Scotland as part of a restructuring deal last month.
Market Gates is one of the Eastern region's oldest malls which ushered in a new era of retail opportunity when it was built in 1975.
In December 2008 an �18.5m refurbishment was carried out, wihile a second extension to the the southern end of the complex was given the green light last year.
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