Cathco Property Group has gone into administration, delaying the construction of a multi-million pound shopping complex in north Wales and putting hundreds of jobs at risk.
The Leicester-based group’s projects are now in the hands of Begbies Traynor administrators, leaving more than 450 construction and retail jobs under threat and work at the Station Yard complex in Denbigh suspended.
The site was to include a 50,000sq.m Tesco store, a restaurant/cafe, 19 retail units and parking facilities.
The area, which used to house a Kwik Save supermarket, has been empty for two years, despite Denbighshire County Council granting planning permission to build the shopping centre around the same time.
In a further blow the council has received planning application for the erection of another Tesco store and filling station in nearby Prestatyn, which is less than 14 miles from the Station Yard complex.