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Wed October 28 2020

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Welsh retail scheme in doubt after developer goes into administration

1 Oct 10 An eight-hectare retail scheme in Denbigh, north Wales, has been thrown into doubt after the developer went into administration.

An eight-hectare retail scheme in Denbigh, north Wales, has been thrown into doubt after the developer went into administration.

Cathco Property Group had been granted planning permission two years ago for a 50,000 sq ft Tesco supermarket, a restaurant, 19 retail units, plus car parking.

The project was expected to create around 250 to 300 construction jobs.

Insolvency specialist Begbies Traynor has been appointed to run the property business.

A spokesman said: "Begbies Traynor, the corporate rescue and recovery business, can confirm Mark Fry and Nigel Nutting were appointed joint administrators of Cathco Property Holdings Limited on September 16.

"They are currently assessing the company’s affairs and will be able to comment further in due course."

Denbighshire council’s leader Hugh Evans said the local authority was still behind the scheme. "We are committed to supporting this development in Denbigh and are prepared to hold discussions with anyone who wants to push it forward,” he added.

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