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WATCH: Work halted on new Cornwall retail park

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2:54pm 22nd August 2017
(Updated 2:54pm 22nd August 2017)

Work on a new retail site in west Cornwall has been halted.

It comes after main contractor Weiser Construction went into liquidation, meaning the company has ceased trading with immediate effect.

Now construction on the site in Penzance, which will see the building of various chains including a new Pets At Home and Costa, is on hold.

In a statement, the company said: "Weiser Construction have on the 31st of July have been given advice from DC Business Recovery and ceased trading with immediate effect."

They also went on to outline the reasons for the sudden end to business.

They said: "Weiser Construction have had an independent audit undertaken which has highlighted account discrepancies.

"A winding up partition has been issued against Weiser Construction and advertised having the effect of immediately being picked up by credit agencies and disabling Weiser Construction’ the ability to attain credit or trade.

"HSBC (Business Account provider for Weiser Construction) have frozen the bank account removing any ability to trade.

"The advice based on the above is to apply for Voluntary Administration, this process has now begun as of Monday 31st of July 2017, and it has been advised by DC Business Recovery that the application to court for administration status is likely to take approximately 10 days, in the interim period the point of contact will be DC Business Recovery.

"It should be noted that all staff have as part of the voluntary administration process have been made redundant."

It added: "We sincerely apologise for this situation."

Consolidated Property Group (CPG), which is behind the site, started work on the 15,800 square foot development in October.

It was hoped the retail park, which will also include names like Poundland, would open towards the end of the year.

And the new development would mean an estimated 18 new jobs for the area.

Pirate FM spoke to Consolidated Property Group who said they did not have a comment and could not provide a date of when the site would be completed at this time.

2:54pm 22nd August 2017

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