DOUGLAS Court Shopping Centre, which has sensationally been placed in receivership, is likely to be managed ’as-is’ for some time before being offered for sale — and its likely value is around €30m, according to property sources.

A bank yesterday appointed receivers to one of the country’s largest shopping centres, built by a prominent Cork family involved in property development for almost half a century.

The Douglas Court Shopping Centre in Cork has gone into receivership.

Combined losses at two companies that are part of the Shipton Group last year narrowed to €40.3m.

Combined losses at two companies that are part of the Shipton Group last year narrowed to €40.3m.