Belfast Telegraph

Thursday 24 April 2014

Unsuccessful applicants for Sainsbury's store go bust

The companies which unsuccessfully applied for permission for a major new Sainsbury's supermarket in Londonderry's Waterside have gone into administration.

GSB (Guernsey) Ltd - which owns much of the Crescent Link shopping centre, including the land earmarked for the Sainsbury's store - entered administration last Friday.

Environment Minister Alex Attwood refused the planning application just before Christmas.

The application was made by a sister company of GSB, called GML (NI) Ltd. GML (NI) changed its name to Cordev last year and entered administration in September.

KPMG's John Hansen confirmed that he is administrator to the two companies.

He added: "These companies are the applicants on the Crescent Link site in Derry and I am in the process of assessing and progressing the planning applications."

Mr Attwood has discussed the rejected proposals with the administrator.

A spokesman for the minister said: "He has recently met with KPMG in relation to the Crescent Link lands. His view on the Crescent Link lands is unchanged."

Both GSB and GML (NI) are members of the Orana Group of companies. Chairman of Orana, John Farmer, said the administration of GSB was "triggered by the minister's decision before Christmas". He added that Ulster Bank had appointed the administrator.

Ulster Bank did not respond to requests for a comment.