Business ETC uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more »
Dublin: 10 °C Thursday 23 May, 2013

Receivers appointed to Douglas Court Shopping Centre

The centre will continue to trade as normal.

Image: Facebook

THE DEVELOPER BEHIND the Douglas Court Shopping Centre in Cork has been placed into receivership.

Following a request from the directors of Douglas Developments Limited, which owns the centre, Kieran Wallace and David Swinburne of KPMG have been appointed joint receivers to the company.

The move was taken by Bank of Scotland plc.

The anchor tenant of the 59-unit complex, Dunnes Stores, and other stores continue to operate as normal.

The Douglas Village and the Blackpool Shopping Centres are also owned by the Shipton Group, of which Douglas Developments Limited is a subsidiary, but they remain under the control of the parent group and are supported by NAMA and its banks.

David Fitzsimons of Retail Excellence Ireland said that the news was “unfortunate” and shows the “immense pressures which exist on the retail industry”.

The group said it will liaise with the receiver on behalf of members and their employees to ensure their wellbeing is a priority.

More: Cork flood victims to get emergency cash for food>

Read next:

Comments (12 Comments)

  • The Same developer (Clayton Love) owns Douglas Court, Douglas Village shopping Centre & Blackpool shopping centre. I believe the developer that owns Mahon Point (Owen O Callaghan) used to own Merchants Quay but sold it on about ten years ago. Very sad news.

    Reply
  • How can a ‘village’ the size of Douglas be expected to sustain 2 shopping centres? Planning Planning Planning €€€€

    Reply
  • No shock to me. I used to work in both shopping centres in Douglas. The developers didn’t anticipate the amount of business that Mahon Point would draw from the area and didn’t make any real attempt to update the centre. Although at one point, there were talks of building another storey onto it and footpaths to connect both shopping centres…pretty crazy. Class Dunnes Stores there though…

    Reply
    • Not surprised either, both shopping centres in Douglas are under pressure. If you walk through Douglas Village shopping centre (which you can’t at the moment because it’s closed due to flooding) the only places doing business are Tesco and M&S. I really don’t know how the smaller shops located between M&S and Tesco stay in business. It’s certainly a tough time to be a retailer.

      Reply
    • Agreed John…the Village used to be a complete ghost town. Even the M&S is under pressure. I always preferred working in Douglas Court, more footfall and easier to stock. I remember when Vera Moda closed up without telling anyone in the shop…they literally had the removers in the night before to take away the stock and locked the doors the next day without a word to the staff. Did the same company develop Merchant’s Quay? Another shopping centre that had suffered in recent times.

      Reply
    • Totally agree re Dunnes, it’s a really good one, best in cork prob but to be fair both centres, particularly D court are pretty far beneath average in terms of even layout. While there may be great shops in both, as there is, the centres themselves are pretty horrible.

      Reply
  • Think we can expect more of these. Think CHQ in Dublin will be next. 80% of units are empty and I can’t see how it will survive.

    Reply
  • One decent sized complex would be more than enough for the Douglas area.

    Reply
  • Where will it all end?
    Is there really ANY light at the end of the tunnel or has that train got lights everywhere?

    Reply
  • All down to this bunch of Eejits policies…!!!

    Reply

Add New Comment