Bridges Antonine, the owner of the Antonine Shopping Centre in Cumbernauld, has filed for administration.
The centre, which was built in 2007, extends to 200,000 sq ft of retail space, with 42 retail units and more than 1,000 car parking spaces.
Annual footfall is currently more than 3.5 million people.
The centre hosts tenants such as TK Maxx, Next and TJ Hughes.
However, following a period of creditor pressure, administrators were appointed to take control and will work with the management team to make a sale.
Until then it will be ‘business as usual’ and commercial property agents will manage the sales process.
All centre management employees are being retained.
James Fennessey, restructuring partner with administrators Azets, said: “The Antonine Shopping Centre is one of Scotland’s leading regional shopping centres with a range of high-quality tenants and a very strong brand name across Central Scotland.
“The contribution of the Antonine Shopping Centre to the local economy is significant and the centre is as much a social hub and focal point for the region as it is a retail centre.
“We would encourage interested parties to contact the administrators as soon as possible as we are keen to try and find a buyer promptly.”
Last August, the centre was put up for sale, with offers over £9m being sought by then owner Bridges Fund Management - which acquired the site five years ago for around £15m, in a joint venture with Scoop Asset Management.
Opened 15 years ago, the Antonine - which was named after its proximity to the Roman Antonine Wall - also includes retailers like Boots and JD Sports.
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