A PROPERTY developer has vowed to complete multi-million schemes in East Lancashire despite two of its construction firms going into administration.

Hurstwood Developments and Hurstwood Facilities Management, which are both owned by the Hurstwood Group, are being wound-up as the effects of the global credit crunch continue to hit the building trade.

This had led to uncertainty over plans to build a new Aldi superstore in New Hall Hey, Rawtenstall - a project being undertaken Hurstwood Developments.

And doubts had also been also cast over the future of the Hurstwood Group-owned Weavers Triangle site, in Burnley.

But today the developer pledged that the New Hall Hey project ‘will be completed’ and said it remains ‘firmly committed’ to the site in Burnley.

Council leaders in Burnley and Rossendale said they would also like the developments to go-ahead and would help with regeneration and create jobs.

Hurstwood chairman Stephen Ashworth, said: “The New Hall Hey development in Rawtenstall has been temporarily affected by the events the decision to put Hurstwood Developments into administration but it will be completed.

“The situation will take several weeks to sort out and work on site will be halted during that time but it will resume.”

Deputy Leader of Rossendale Council Bill Challinor welcomed progress, saying the construction of the site will help the ‘wider regeneration of the borough.’ The Weavers’ Triangle site, located in a rundown area between Westgate, Trafalgar Street and Manchester Road, Burnley, includes plans for luxury apartments and cafes.

There is also a proposal for a Fashion Tower centrepiece, designed by Factory Records founder and former broadcaster Tony Wilson before his death.

Mr Ashworth said: “Hurstwood remains firmly committed to pushing forward its investment schemes, including the Weavers Triangle project in Burnley.

“This is a long-term investment asset and our team has worked tirelessly for several years and invested large sums to reach this stage.

“Throughout the last four years we have enjoyed an excellent working relationship with Burnley Borough Council and we remain as committed as ever to pushing all our schemes forward - just as we are with other investment projects elsewhere in our portfolio.”

Leader of Burnley Council Gordon Birtwistle is also keen for work on the site to be completed.

He said: “It is of major importance in the regeneration of Burnley and is one of our biggest flagship schemes. It will create hundreds of jobs.”