Fresh hope for Freshney Place as Grimsby mall enters receivership

By

Nigel TAYLOR

Published
Feb 2, 2022

Grimsby's Freshney Place Shopping Centre has been placed into receivership following pandemic-related financial difficulties.

The struggling centre, which features major retailers including M&S, Primark, TK Maxx, Quiz, and River island, will remain open as normal, with former owner Capreon continuing as the centre's manager.

And the property firm said work on a planned £18 million extension to the mall, including a nine-screen cinema, seven restaurants and a new market hall, would go ahead.

A spokesman for Capreon confirmed that receivers Cushman & Wakefield were appointed last month. 

At the same time, it was reported that fashion retailer New Look was leaving Lincolnshire’s largest covered mall, having occupied one of the largest units in the complex.

A spokesperson said: “We will continue to work with North East Lincolnshire Council in the delivery of the proposed new cinema and market hall for the town centre following the successful award of the Future High Street Fund grant monies last year.”

North East Lincolnshire Council (NELC) said the receivership would not affect other shopping street regeneration plans.

NELC and Freshney Place are to both contribute £5 million towards the project, with £17.2 million being provided by the national Future High Streets Fund for the works and other wider plans.

Demolition on the existing market hall is expected to begin later this year, if a planning application is approved.

The latest uncertainty brings another blow to retail in Grimsby town centre after two years of challenges dealt by the pandemic. The city centre has already lost House of Fraser.