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Douglas Court Shopping Centre in receivership

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  • 06-07-2012 3:31pm
    #1
    evilivor
    Registered Users Posts: 2,613 ✭✭✭


    The shopping centre is operated by Douglas Developments Ltd, which has appointed KPMG as receivers.

    A spokesperson for the company has said it has anticipated that all stores at the facility will continue to trade as normal and no job losses are expected as a result.


    http://www.breakingnews.ie/text/ireland/ojojidkfeymh/


Comments

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    #2
    dewdrop
    Registered Users Posts: 265 ✭✭dewdrop


    Some media reports say that this shopping centre was damaged by the recent flood which i assume is an error.


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    #3
    corkcoco
    Registered Users Posts: 27 ✭corkcoco


    dewdrop wrote: »
    Some media reports say that this shopping centre was damaged by the recent flood which i assume is an error.
    This is an error, some media outlets are not aware that there are two shopping centres in Douglas village. There are a number of vacant units in Douglas Court at the moment & some "pop up" shops have passed through the centre over the past year. Very difficult period for all traders at the moment, I'm sure that this centre has a future in Douglas.


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    #4
    dewdrop
    Registered Users Posts: 265 ✭✭dewdrop


    What practical effects does the appointment of a Receiver have on a shopping centre. I have in mind that the rents will continue to be paid by the various tenants but could the overall management of the centre be affected?


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    #5
    gbee
    Closed Accounts Posts: 6,388 ✭✭✭gbee


    A receiver takes control of the enterprise with a view to making it sustainable or prepare it for liquidation/sale.

    I understand that an examiner would probably have been appointed previously, but if not the receiver, as I understand it would do that job too.

    I used to shop in Douglas Court quite a bit, had Christmas stalls on both centres up to three years ago and the Court was always, always very, very, very busy outselling the Village four or five times.

    I don't tend to shop at all nowadays but if I go to Douglas it's into the Village.


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    #6
    hoodwinked
    Closed Accounts Posts: 5,175 ✭✭✭hoodwinked


    was in there earlier looking for centre vouchers, they couldn't sell them to me, and told me they wouldn't for the forseeable future? :confused:


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    #7
    KCAccidental
    Closed Accounts Posts: 1,492 ✭✭✭KCAccidental


    hoodwinked wrote: »
    was in there earlier looking for centre vouchers, they couldn't sell them to me, and told me they wouldn't for the forseeable future? :confused:

    they can't because they don't know if they will be able to honour them in a few months time or not.


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    #8
    hoodwinked
    Closed Accounts Posts: 5,175 ✭✭✭hoodwinked


    KCAccidental wrote: »
    they can't because they don't know if they will be able to honour them in a few months time or not.

    true but i thought most companies in these circumstances would try take in as much cash as possible not worry about what would happen later!


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    #9
    KCAccidental
    Closed Accounts Posts: 1,492 ✭✭✭KCAccidental


    they might be one of the few companies out there that have ethics :)


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    #10
    Firegaurd
    Registered Users Posts: 109 ✭✭Firegaurd


    hoodwinked wrote: »
    true but i thought most companies in these circumstances would try take in as much cash as possible not worry about what would happen later!

    So let me get this straight, you went into buy vouchers knowing they were in receivership, and are disappointed that they didn't take your cash knowing that they may not be able to honour it ?

    Is it just your username ?


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    #11
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    The centre itself must be quite sustainable as long as Dunnes are happy to trade in there you'd imagine. Clayton Love & Co must have gotten their fingers into less lucrative than expected pies over the past while. Douglas Court isn't a bad centre to be fair, not a patch on Mahon Point but it has a different sort of vibe and does seem to have a lash of footfall.


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    #12
    kub
    Registered Users Posts: 6,546 ✭✭✭kub


    The place is dated looking, they should have splashed out in the good times and put it up to Mahon.


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    #13
    gbee
    Closed Accounts Posts: 6,388 ✭✭✭gbee


    kub wrote: »
    The place is dated looking, they should have splashed out in the good times and put it up to Mahon.

    I was a loyal Dunne's shopper for years, they were first choice, and DCSC was first choice, but the centre's success made parking very difficult and time consuming and I found it easier to go directly to BishopsCourt from Mahon.

    When Mahon Point was built with its two hour traffic delays, my decision to shop so far away was vindicated even further.

    As for splashing out, in this thread you'll see they were denied development if you look up company registrations, the Village is part of Douglas Development too.


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    #14
    hoodwinked
    Closed Accounts Posts: 5,175 ✭✭✭hoodwinked


    Firegaurd wrote: »
    So let me get this straight, you went into buy vouchers knowing they were in receivership, and are disappointed that they didn't take your cash knowing that they may not be able to honour it ?

    Is it just your username ?

    not disappointed, but i thought it was business as usual and my aunt would have used the vouchers in the next day or two anyway if not in douglas village or blackpool shopping centers where they are also valid, if they were available, i was just surprised they weren't selling the vouchers to get the cash in if/before they close/sell,

    to be honest i don't see the centre closing any time soon.


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    #15
    TheDriver
    Registered Users Posts: 12,514 ✭✭✭✭TheDriver


    what happened to big shiny clock tower?


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    #16
    gbee
    Closed Accounts Posts: 6,388 ✭✭✭gbee


    TheDriver wrote: »
    what happened to big shiny clock tower?

    Broken up and scrapped, not too sure if the clock was used to renovate another City Clock.

    As you may know, Anne Dunne was cladding the whole centre in the gaudy materials but many objections made her stop and many years later the offending clock tower was dismantled and mostly scrapped.


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    #17
    Firegaurd
    Registered Users Posts: 109 ✭✭Firegaurd


    TheDriver wrote: »
    what happened to big shiny clock tower?

    I heard its in Vegas between the statue of liberty and the eiffel tower :D


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    #18
    kub
    Registered Users Posts: 6,546 ✭✭✭kub


    gbee wrote: »
    I was a loyal Dunne's shopper for years, they were first choice, and DCSC was first choice, but the centre's success made parking very difficult and time consuming and I found it easier to go directly to BishopsCourt from Mahon.

    When Mahon Point was built with its two hour traffic delays, my decision to shop so far away was vindicated even further.

    As for splashing out, in this thread you'll see they were denied development if you look up company registrations, the Village is part of Douglas Development too.

    I can see where you are coming from re Bishopstown, I did not realise that they applied for planning permission.
    Are you sure that the Village shopping centre is part of Douglas Developments? I thought that was a different company within the Shipton group.


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    #19
    run_Forrest_run
    Registered Users Posts: 6,430 ✭✭✭run_Forrest_run


    it may be a tad dated but Douglas Court SC has a very good range of shops an services. Would be a huge loss to Douglas if it was to go.


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    #20
    gbee
    Closed Accounts Posts: 6,388 ✭✭✭gbee


    kub wrote: »
    Village shopping centre is part of Douglas Developments? I thought that was a different company within the Shipton group.

    I'm not sure, no. When reading of the receivership, some articles site the redevelopment of the Village as the main capital burden ~ however, it may be me reading it or the reporter reading it @ because we know that the Village is in Nama.

    Shipton Group are the holding company the trading names Douglas Court, Douglas Village and Blackpool SC are in their remit, the actual companies have always only ever been Blackpool Developments and Douglas Developments @ one would expect a third company, I don't know.


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