Aberdeen Retail 1 Ltd and Aberdeen Retail 2 Ltd – administration

Aberdeen Retail 1 Ltd and Aberdeen Retail 2 Ltd, the Guernsey-based owners of Aberdeen’s Bon Accord shopping centre, entered administration on August 31, having suffered “unsustainable cashflow problems” as a result of the Covid-19 pandemic, rising costs and intense competition. The centre, which features 72 retail units, is continuing to operate as joint administrators James Fennessey, Blair Milne, Colin Haig and Matthew Richards of Azets, prepare the centre for sale.