Brunel Centre goes into receivership (From Swindon Advertiser)

Brunel Centre goes into receivership

9:41pm Friday 6th January 2012 in News

IT has been announced that the Brunel Shopping Centre has gone into receivership.

The popular shopping destination in the heart of Swindon's town centre has now been placed under control of fixed charged receivers.

A statement made by the company taking temporary control of the centre management read: "Negotiations have been ongoing with the borrower looking at a possible loan restructure.

"To date no consensual restructuring proposal has been agreed. Negotiations are continuing.

"In the meantime it has been determined that the best course of action is to take control of the cash flow and property through the appointment of Fixed Charge Receivers."

More updates on the situation will be uploaded on the Adver's website throughout the weekend.

For full story and reaction, see Monday's Adver.