Administration move won’t affect Callendar Square service

One of the companies run by the Callendar Square owners has gone into administration
One of the companies run by the Callendar Square owners has gone into administration

Part of the property company that owns Callendar Square has gone into administration.

London based Propinvest closed a multi-million pound deal with Falkirk Council for the shopping centre and car park in 2006.

The council rents space there for its One Stop Shop but claims the news is unlikely to have any impact in the immediate future on its interests or for the other traders.

A spokesman said: “We have been aware of the position with Propinvest for some time but there are no changes to our service delivery arrangements required in the meantime.”

The Gemini group of four companies managed by Propinvest was placed in administration after an application to the Royal Court of Guernsey by the firm representing the interests of bondholders who have a stake in the properties it owns and seen their value plummet from £1.2 billion to just £437 million this year.

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