Richmond Centre receivership 'worrying' and proof decisive action needed to reinvigorate city centre

Derry representatives have said they are 'very concerned' about developments at the Richmond Centre in Derry and suggested that decisive action needs to be taken to reinvigorate the city centre.

Last week, the Derry News revealed that the Richmond Shopping Centre is in receivership and in need of a new owner.

Hosting more than 40 shops, the centre is home to big name retailers including Argento, JD Sports, Sports Direct and New Look.

However, lockdowns and restrictions imposed as a result of the Covid-19 pandemic have placed unprecedented pressures on local businesses.

Retail footfall plummeted as shoppers stayed at home and online shopping rocketed.

The Derry News seen a letter circulated to businesses based at Richmond Shopping Centre .

It says that Ernst & Young (EY) has appointed two individuals as receivers of the Ferryquay Street shopping centre on June 22.

In the letter, Joint Receiver, Andrew Dolliver states: “As a result of this appointment, the property is now under our control as Joint Receivers and all powers of management in relation to this property now rest with us.”

The correspondence goes on to add that the property will continue to trade while in receivership on a ‘business-as-usual’ basis with a view to seeking a sale of the property to a new owner in due course.

With society reopening, Derry city centre has remained busy and it is hoped that many businesses will now benefit from a so-called ‘bounce back’.

However, SDLP Foyle MLA Sinéad McLaughlin said she is ‘very concerned’ about the future of the Richmond Centre.

“It is clear that the retail environment in Derry city centre is facing a tough situation.

“Strong action is needed to make the city centre a more attractive location for retail, leisure and residential purposes,” she added.

“This needs to include a review of business rates, so that retailers are not facing a financial penalty for locating in the city centre compared to an out-of-town shopping centre.

“We must do more to protect and enhance our city centre, to bring more life back to it."

Meanwhile, People Before Profit Councillor Shaun Harkin described as 'very worrying' news that the centre is in receivership.

"It's reported 'business as usual' will continue but there's too many jobs there and the Richmond Centre is too important economically to the city and region to take this for granted," he added.

"The Council, political parties, trade union representatives, others with responsibility, including if necessary the Minister for the Economy, will need to engage with the Joint Receivers to make sure jobs and services are protected.

"As we attempt to build out of the worst of the pandemic and try to build back better it's vital we don't have a hands off approach when it comes to the decisions with potentially huge ramifications by corporations, management bodies landlords and others.

"Protecting jobs, communities and defence of amenities and resources for the North West must be the priority in the coming months and years."