THE owner of a major shopping centre in Cumbernauld, which counts TK Maxx, Next, and TJ Hughes among its anchor tenants, has fallen into administration.

James Fennessey, Colin Haig, and Matthew Richards, partners of accountancy firm Azets, have been appointed joint administrators of Bridges Antonine LLP, it was announced this morning. A statement said administrators were appointed to take control and work with the management team and property agents to find a buyer for the centre following a “period of creditor pressure”.

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The Antonine Shopping Centre, which was built in 2007, spans 200,000 square feet of retail space with 42 retail units and nearly 1,100 car parking spaces. It attracts an annual footfall of more than 3.5 million shoppers.

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Administrators said it will be “business as usual” at centre, which has a wide range of tenants, from national retailers to specialist shops and cafes, while efforts are made to find a buyer. All centre management employees are being retained following the appointment of the administrators.

James 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.

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“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. We would encourage interested parties to contact the administrators as soon as possible as we are keen to try and find a buyer promptly.”

The development comes after the owner of East Kilbride Shopping Centre fell into administration in November amid ongoing challenges across the retail sector.