Brunel shopping centre in Swindon in receivership

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The Brunel Shopping Centre in Swindon has gone into receivership but has said the shops will continue to trade.

It is understood that receivers were called in on 23 December because the terms of the loan against the building were not being met.

Solutus Advisors, the company taking temporary control of the centre, said "negotiations were continuing".

About 90% of the shopping complex, which is in the town centre, is currently occupied by businesses.

'Loan extension'

A spokesperson for the shopping centre said it was "business as usual".

She added: "Brunel Unit Trust remains the legal owner, the asset management and property management agreements remain in place and loan extension discussions continue to seek a long-term solution."

Solutus Advisors said: "It has been determined that the best course of action is to take control of the cash flow and property through the appointment of fixed charge receivers.

"Now in place, the receivers will provide Solutus Advisors with updates which will in turn be provided to the investors via the quarterly investor reports provided by Solutus or special notices where appropriate."

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