Shopping centre enters into receivership

The same operator that previously owned Direct Factory Outlets (DFO) is once again in trouble with its Spencer Street Fashion Station entering into receivership.

Austexx has appointed Craig Shepard and Leanne Chesser of KordaMentha as receivers to manage the Melbourne shopping centre.

Shepard said that although the Global Financial Crisis has had a significant impact on the retail sector, the receivers will work with existing tenants to promote the centre’s stores and future financial stability, as continues to trade on a ‘business as usual’ basis

Meanwhile, two other Austexx shopping centres – Flinders Plaza Shopping Centre and Torquay Central – that also went into receivership in the last month are also continuing operations during the progress of the receivership.