News
Pets at Home snaps up Vets4Pets practices
18/04/13
W5 Lite - expands at the Outlet, Banbridge
17/04/13
Bangor Leisure Centre - For Sale
11/04/2013
Jam Media at Murray's Exchange - up to 40 New Jobs
20/03/13
Dunelm shrugs off gloom with 15% profit rise
12th February 2013
DW Sports posts 'excellent' FY results
02/01/13
Pizza Hut to close 70 site-down restaurants
01/01/13
Costa Coffee to open a New Store at Riverside Retail Park, Coleraine
19/11/12
Poundland Celebrates a Glamorous Birthday
19.10.12
Royal Exchange: Attwood due to approve Belfast city centre plan
05/09/12
Discount store booms upmarket shoppers boast of saving money
29/08/12
H&M to Open in Derry
22/08/12
Sales at H&M up 2% in July despite market gloom
20/08/12
SemiChem Seeks Pop Ups
20/07/12
Asda joins race to 'replace' battered High Street bank
19/07/12
Poundland appoints former Tesco boss as chairman
17/07/12
Asda recruits 450 staff for new Portadown store
02/07/12
Rapid expansion continues at Poundland
02/07/12
Frankie & Benny’s coming to Coleraine
02/07/12
H&M to open at The Square, Towncentre, Tallaght
21/06/12
Dealz want more stores in Ireland!
14/06/12
26 new jobs as Poundland opens in town centre
21/05/12
26 new jobs as Poundland opens in town centre
26/04/12
Dealz to open ten new stores in Ireland in next year
17/04/12
Poundland's new stores strike gold down south
21/12/11
Over 70 jobs created at The Outlet
1st December 2011
Waitrose eyes move into Ulster retail market
30/11/11
Belfast in National Geographic top 10 destinations
24/11/11
Irish government U-Turn on upward-only rent reviews
21/11/11
Property Company could be wound-up over unpaid bill
17/11/11
In for a penny and in for a Poundland expansion
03/11/11
A|wear retail chain acquired by Hilco amid uncertainty
19/10/11
Peter Robinson hits out at 'selfish' bids to halt shopping complexes
06/10/11
500 apply for 35 toy store jobs in Letterkenny
26/09/11
Dunelm Mill to open in Coleraine and create 50 jobs
26/09/11
Homestore and More to open in Sligo and create 30 jobs
15/09/11
Poundland Reach 20 Stores in NI
13/09/11
Tesco's plans for hypermarket back on shelf after appeal
12/09/11
Out to create Blue skies
12/08/11
Cost Plus Sofas to open in Tullamore Retail Park
03/08/11
TDK assisting Poundland to open in Ireland under Dealz fascia
02/08/11
TDK help H&M to expand its Northern Irish portfolio.
27/07/11
H&M to open 11th store in Ireland
19/07/11
Versace to design iconic collection for H&M this Autumn
30/06/11
TDK appointed on prime commercial development site
14/06/11
Castlecourt Shopping Centre in Belfast put up for sale
13/06/11
Ulster Bank takes over Banbridge Outlet store
13/06/11
Why Executive would be off its trolley to target NI's retail giants
05/04/11
Tesco gets go-ahead for new Banbridge store
25/03/11
Fixed Charge Receiver Update
24/03/11
TDK appointed on Leisure Centre Disposal
16/03/11
TDK advise on disposal of warehouse site
15/03/11
TDK appointed as managing agent on Newbay Properties Shopping Centre
02/03/11
TDK appointed on Haymarket Arcade as letting and management agents.
23/02/11
TDK appointed on Murrayfield Shopping Centre, Larne
16/02/11
What's in store for the economy in 2011?
11/01/11
The report on Ireland's Toxic Tiger
17/12/10
Cash boost needed for the retail sector
14/12/10
Holland & Barrett to open in Monaghan SC
26/11/10
UK's middle-class fuels Poundland expansion
24/11/10
Starplan sign up for Riverside Retail Park, Coleraine
18/10/10
£5m price tag on rugby club’s site
05/10/10
TDK to advise on valuation and marketability
04/10/10
Park Centre Secures New Tenants
04/10/10
B&M Open in Coleraine
04/10/10
Home Bargains to open in Carrickfergus
04/10/10
Santander agree deal with Riverside Retail Park
04/10/10
Netto chain bought over by grocery giant Asda
04/10/10
Recession ideal for TDK's new practice
04/10/10
Semichem appoint TDK to aqcuire more stores
04/10/10
Supermarkets and the competition commission
04/10/10
TDK appointed as managing agents on Newbay Doherty properties Retail Park portfolio
04/10/10
TDK Launch Receiver Service to Local Banks
04/10/10
Fixed charge receiver opinion piece
04/10/10
TDK on the recruitment trail
04/10/10
Ulster Bank takes over Banbridge Outlet store
13/06/11
Ulster Bank has taken control of The Outlet centre in Banbridge following financial problems for the developer.
The £70m store, the biggest factory outlet in Ireland, opened in 2007.
Ulster Bank said it was committed to working with the centre's management to secure its long-term future. Developer Guernsey-based John Farmer has not commented.
BBC NI business editor Jim Fitzpatrick said the retail park had "fallen victim to the demise of the southern shopper".
"It was conceived for an all-Ireland market with the developer citing the big savings that could be enjoyed by southern consumers.
"But the huge cost of underwriting the Republic's banking sector has left Irish taxpayers with considerably less money to spend.
"That, combined with higher petrol costs, has removed the incentive for shoppers to head north for a bargain."
Documents seen by the BBC show that the bank is holding The Outlet in a company called West Register (Northern Ireland).
It is the NI branch of a special group of companies set up by the bank's parent company, Royal Bank of Scotland.
The purpose of this group is to hold troubled businesses that the bank thinks it should retain because of the possibility that they could recover some of their value.
For example, the Richmond Centre in Londonderry was bought by West Register last year after the company that owned it went bust owing RBS millions.
In May, an Ulster Bank mortgage relating to The Outlet was registered against West Register (Northern Ireland).
In a statement, Ulster Bank said the shopping centre had a strong tenant list making up its 82 stores, employing approximately 500 full and part time staff.
"West Register (Northern Ireland) Property Limited will work with the Centre's management team to secure the long term success of The Outlet."
What has Ulster Bank done?
- The bank's move suggests it has converted its debt into shares.
- That would mean ownership of the business has transferred from Mr Farmer's company to Ulster Bank.
- The bank would then hope that the business' performance improves and it eventually makes a profit.
Taken from the BBC website on 13/06/11. http://www.bbc.co.uk/news/uk-northern-ireland-13750531
