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Troubled Eastpoint Centre sell off to pay debts
3:36pm Sunday 16th February 2014 in News
EVERYTHING must go, even the kitchen sink.
That is the situation at the Eastpoint Centre as administrators Baker Tilly are auctioning all of its goods, including plasma televisions, laptops, tables and furniture.
But ownership of the building will revert back to landlords Plus You Limited (PYL) once the administrators transfer the lease, expected to be at the end of the month.
Baker Tilly are raising the money to pay off more than 30 creditors owed more than £150,000 in total.
Speaking at a Thornhill Community Voices meeting Mike Allot, PYL community coordinator, said: “The administrator is still on site and they have totted up all of the chattels and they have been put up for sale on an online auction.
Everything is up for sale, literally including the kitchen sink.
“From PYL’s perspective the building is still in the hands of the administrator and will remain so until the lease is surrendered back to PYL and that is not expected to happen until the end of this month.”
Mr Allott added PYL had no plans for the building yet but were having regular meetings to discuss its future.
He said: “There’s nothing happening there at the moment and it’s too early to say and it’s not our responsibility yet. We are trying to find a way forward but it’s a case of wait and see.”
“It could be a good thing for PYL because it means we get control of a £10m community facility. But we would also take on the running costs with only four-and-a-half staff whereas the previous tenants had 23.”
He added: “The impact on PYL has been unbelievable and I don’t think we have ever worked as hard as a team as we have in the past few weeks. We have another board meeting on Monday where more will be discussed but until the lease is surrendered there’s not much we can do.”