Receivers called in as huge Top Ryde Shopping Centre runs up $700m debt six months after opening

The Top Ryde Shopping Centre has fallen victim to weak consumer spending just six months after the Prime Minister opened the massive complex.

A syndicate of four banks foreclosed on the newly renovated centre on Wednesday after the retail development tycoon John Beville was unable to meet the repayments on hefty loans used to give the centre a facelift — via redwolf.newsvine.com