Wokingham Borough Council's executive member for regeneration Cllr Philip Mirfin said: “Last night Wokingham Borough Council was advised that Dawnus Construction Limited, the main contractor at Peach Place, has gone into administration. Given the risks inherent in all building contracts of this type the council has rigorous policies in place to handle situations like this and has already moved forward with taking control of the site.
“It is premature for the council to comment too much at this stage but, whilst the project is well advanced, a review of outstanding works will be carried out and a new contractor is in the process of being appointing.
“Contingency plans are already in place and works will be prioritised to allow retail tenants to open for business as soon as possible; it is hoped that some can complete their fit out and open to the public by the end of March or April as planned.
“Whilst the council is disappointed that this will lead to a delay in completion of some construction elements, it remains very pleased with the quality of the design and construction to date as well as the businesses who are already open for business and those who have signed up to the new development.”