Scottish luxury residential developer Gregor Shore has appointed Deloitte & Touche as administrators.
The company, which is developing the Platinum Point and Grantham Marina schemes in Leith Docks, ‘ran into cash flow problems’ as a result of the collapse of the UK’s residential market, said administrators Deloitte & Touche.
John Reid and Patrick Lannagan of Deloitte & Touche were appointed administrators.
‘Due to the material downturn in the housing market, Gregor Shore has been suffering severe cash-flow problems and the directors concluded they had no other option than to appoint administrators,’ said a statement from Deloitte & Touche.
‘It is the administrators' intention to complete the company's two major developments, Platinum Point at Newhaven Harbour and Anchor at Granton Harbour.’
Platinum Point totals 452 flats and Granton Harbour includes 135 apartments.