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The Priory Shopping Centre in Dartford goes into receivership, calling in Jones Lang LaSalle, despite a postive Christmas for many retailers there

26 January 2014
by Chris Price

A shopping centre has gone into receivership.

The Priory in Dartford has appointed two directors from investment management firm Jones Lang LaSalle to oversee proceedings.

It went into receivership shortly before Christmas, on December 19.

The Priory Shopping Centre in Dartford

The Priory Shopping Centre in Dartford

Yet festive trading has not been blamed for the move.

Jones Lang LaSalle director Jemma McAndrew said: “For many of the retailers within the centre Christmas trading has been positive and it is very much business as usual for the Priory Centre.”

Unlike administration, where a company is called in to protect creditors while it restructures, receivership is initiated by banks or other creditors who have lost faith in a company’s ability to repay its debts.

Receivers then sell assets so that creditors can recover money owed to them.

The Priory Centre in Lowfield Street includes a Sainsbury’s, Poundland, 99p Store and Wilkinson.

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