Shopping centre in cash crisis
Cannock's main town centre shopping complex has gone into receivership, it was revealed today.
Directors of property consultants GVA Grimley have been appointed receivers for Cannock Shopping Centre but pledged that the 35 shops would continue to trade as normal for the time being.
David Newall and Roger Phillips from Grimley were appointed on March 17 and tenants were notified on Monday.
GVA Grimley spokesman Lawrence Hall said: "We will not be looking for an immediate sale but will be reviewing the options."
He said the likely outcome will be holding on to the sale to ensure the best possible deal. He said the Market Hall Street shopping centre businesses would stay open.
"We hope there will be no disruption to the normal retail operation," he added.
Cannock Chase Council's town centre development councillor Danny Davies said: "It is bad news and obviously a serious situation for shoppers in Cannock.
"I am surprised because Cannock Shopping Centre is a prosperous centre and they do a lot of trade there. I am sure they will find a buyer reasonably quickly."
Councillor Davies added: "It has changed hands a number of times.
"The council is looking to re-develop the Prince of Wales and market hall parts of the town centre with our partners St Modwen so the future of Cannock town centre can only be good."
