Following a period of creditor pressure, the administrators were appointed to take control and will work with the management team and property agents to achieve a sale of the centre.

The centre, which was built in 2007, extends to 200,000 sq ft of retail space with 42 retail units. Annual footfall is currently more than 3.5 million.

The centre hosts a diverse mix of tenants including various national high street retailers, specialist shops, cafes and anchor tenants TK Maxx, Next and TJ Hughes. 

It will be “business as usual” and commercial property agents will manage the sales process. All centre management employees are being retained following the appointment of the administrators.

James Fennessey

Mr Fennessey, restructuring partner with Azets, said: “The Antonine Shopping Centre is one of Scotland’s leading regional shopping centres with a range of high-quality tenants and a very strong brand name across Central Scotland. The centre attracts a very high level of footfall.

“The contribution of the Antonine Shopping Centre to the economy of Central Scotland is significant and the centre is as much a social hub and focal point for the region as it is a retail centre.”