Zolfo Cooper has been appointed as the administrator for Trostre Retail – a property developer specialising in retail parks in the North West and Wales.
Trostre is reported to have been experiencing what it described as “cash flow problems” due to its exposure to the retail market.
Following the appointment, Zolfo will continue to trade the company while “exploring all possible options for the future of the business.”
Simon Wilson (pictured, left), Peter Holder (pictured, right) and Anne O’Keefe, partners at the firm were appointed joint administrators on 9 January 2012.
Wilson said: “Unfortunately, three of the tenants at the Company’s remaining property in Bolton’s Central Retail Park went into insolvency proceedings between 2008 and 2010 which lead to a material fall in revenue.
“Our first priority is to stabilise the business and assess its financial position. During this time we have retained the services of Riddell to manage the property on behalf of the joint administrators and do not expect any change to the day-to-day operation of the property.”