Blackpool regeneration firm enters administration

The £300m development was set to be built near Blackpool's Golden Mile

The company set to deliver Blackpool's £300m regeneration project has filed for administration.

Nikal Ltd was the developer overseeing the Blackpool Central scheme, a proposed leisure complex near the Golden Mile and the biggest single investment into the town in more than a century.

Blackpool Council confirmed the company had filed a notice of intention to appoint administrators, with the authority adding it was still committed to delivering the project.

A spokesperson added: “We had been negotiating with Nikal on how they would deliver the next phases of leisure and accommodation, and will speaking to them to understand how this news affects those plans."

'Right direction'

A new multi-storey carpark, which forms part of the project, opened earlier this year.

"We are currently completing preparations to demolish the old police station and courts building early in the New Year," the council spokesperson added.

But opposition council leader Paul Galley said he was worried the council had "put all of its eggs in one basket" with the project.

"It's impact will potentially be huge if we don't have a plan b," he added.

Nikal Ltd had said the complex would "future-proof Blackpool's tourism offer" after the coronavirus pandemic.

Claire Smith, from Blackpool's holiday accommodation trade association Stay Blackpool, said she was optimistic about the project continuing with a different developer.

She added: "The enabling processes have started, which is only going to be a good thing because for anything else that comes along, and I feel sure it will, we are heading in the right direction."