Lynn’s Vancouver Quarter shopping centre could be put up for sale after administrators were called in.
The shopping centre is owned by Northern Irish company Hollybrook Investments, which has been holding talks to re-structure its £69 million debt with American Investment company Oaktree Capital.
Deloitte is acting as administrator after being called in by Oaktree’s Luxemburg-based subsidiary, HRGT Debtco SARL, and is overseeing the management of the centre.
The joint administrators report states that Hollybrook entered into administration on August 31.
It says: “The administrators are allowing the group to continue to trade whilst the sale of the property (the shopping centre) is investigated.”
A spokeswoman for Hollybrook Investments states that it is also working with the investment company and stressed there is no threat to the centre.
She said: “Hollybrook Investments is the property manager of the Vancouver Quarter shopping centre and this role remains unaffected by the recent restructuring undertaken by Oaktree Capital, the US private equity company.
“This process, which is nearing completion, was part of an agreed refinancing plan and Hollybrook Investments will continue to manage the shopping centre which is trading successfully.”