Bank brings in receivers at shopping centre

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.

KPMG confirmed last night that following a request from the directors of Douglas Developments Ltd, part of the Love family’s Shipton Group, and which owned Douglas Court Shopping Centre in Cork, KPMG’s Kieran Wallace and David Swinburne were appointed joint receivers to the firm by Bank of Scotland plc at noon yesterday.

The receivers have taken over the running of Douglas Court Shopping Centre, which has Dunnes Stores as its anchor tenant, and where dozens of independent retailers employ hundreds of people.