The company created to own Modus's Grand Arcade shopping centre in Wigan has been placed into administration.
Administrators from KPMG were appointed on Monday to Modus Properties (Wigan) and Modus (Wigan). KPMG said no impact on customers or tenants is anticipated while a buyer is sought.
Norwich Union is thought to be the largest secured creditor.
The 450,000 sq ft shopping centre opened in 2007.