Talks are still ongoing over the future of a flagship enterprise centre.
West Norfolk council loaned Norfolk and Waveney Enterprises (NWES) £2.7m in 2014 to build the King's Lynn Innovation centre (KLIC).
The deadline for repayment of the loan elapsed on Friday, November 30.
Council leader Brian Long said the authority was considering whether to take possession of the building, which stands on council-owned land in the Nar Ouse Regeneration Area.
In a statement issued this afternoon Alistair Beales, the council's cabinet member for corporate projects and assets, said: 'Senior councillors and officials at the council have been discussing future arrangements with NWES.
'These discussions are ongoing and there will a detailed announcement in coming days. In the meantime it is business as usual at the KLIC building.'
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