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Houndshill's future in doubt
UNCERTAINTY surrounds the future of Blackpool's Houndshill shopping centre today after the company that runs it went into administration.
Modus Corovest (Blackpool) Limited owns the freehold to the centre where a 30m extension was completed last September.
The shock announcement comes just days after parent company Modus Ventures went into administration after failing to meet its debt repayments.
But finance chiefs say the shopping complex - seen as key to Blackpool's regeneration - will continue to trade as normal.
Mark Firmin and Myles Halley from KPMG Restructuring have been appointed Joint Administrators of Modus Corovest (Blackpool) Limited.
Mr Firmin said: "The centre will continue to trade whilst the Joint Administrators review the situation and develop a strategy that is appropriate for this particular site. No impact on customers or tenants is anticipated."
Houndshill is the third shopping centre in the North to go into administration in the last three months following Wakefield's Trinity Walk in March and Wigan's Grand Arcade in May.
At the time the parent company went into administration, KPMG said it was investigating the viability of all the companies beneath it.
Houndshill, including its flagship store Debenhams, has been hailed a huge success.
Around 200,000 shoppers a week visit the centre but some stores have closed their doors since it opened including Passion for Perfume and music giant Zavvi, which were both casualties of the economic downturn.
The Faith shoe store is also moving out but is expected to be replaced by a mobile phone shop.
A hoped-for second phase of the centre includes a 63-bedroom, five-storey hotel facing the Winter Gardens in Coronation Street, and two stores occupying 4,000 square metres over two floors.
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Weather for Blackpool
Saturday 26 May 2012
Today
Sunny
Temperature: 13 C to 27 C
Wind Speed: 20 mph
Wind direction: East
Tomorrow
Sunny
Temperature: 13 C to 25 C
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