Shopping centre bosses have started crunch talks as one of its flagship retail traders faces up to the threat of closure.
Chiefs at Middleton Grange Shopping Centre, in Hartlepool, are weighing up the “impact” on its operations after retail chain BHS entered into a company-voluntary arrangement, as it battles to restructure its ailing finances.
The BHS branch in the shopping centre is one of 40 facing the axe unless rent levels can be reduced.
The store could keep its doors open if a deal to slash rent payments by 25% can be agreed.
Now, LaSalle Investment Management, which operates Middleton Grange Shopping Centre, say they are searching for a “long-term solution” for all parties.
A spokesperson for LaSalle Investment Management said: “Following the BHS CVA announcement we are in conversation with BHS to determine the impact on our operations.
“We are working through the different scenarios to achieve a long-term solution for all involved.”