I am so livid that Shropshire Conservatives have wasted 20% or £11m of their investment of public money. Last year they ‘invested’ £51 million buying two shopping centres in Shrewsbury – all without getting them properly valued first
Buying shopping centres when the retail sector is facing massive changes and cost pressures is reckless and irresponsible. The pressures were all entirely predictable and foreseeable. Industry analysts saw it (See Deloitte Retail Trends 2018) – why did they ignore what everybody else could see? Somebody needs to resign for this flagrant waste of public money! Appalling.
Read more Shropshire Star: https://www.shropshirestar.com/news/local-hubs/shrewsbury/2019/06/03/value-of-council-shopping-centres-falls-by-10m/