Construction has finally resumed on the Times Square shopping centre site after a former developer went bust six months ago.

Work overhauling 30-year-old shopping centre was taken on by developers Macmillan and Wright last month after construction firm, Longcross Construction Ltd, went into administration in June and work ground to a halt.

Builders have returned to the 126,000sq ft site and construction is going ahead after Lumnia Real Estate Capital approached the group.

Lumina Retail Estate Capital bought the shopping centre alongside neighbouring Times House for £13m in April last year from Buckingham Securities, which had made a substantial loss, having purchased the properties before the financial crisis for £40m.

On its website Macmillan and Wright said they will install a new entrance onto the high street and reconfigure the layout for large retail units.

Retailers TK Maxx has already booked a spot in the new-look centre with other high street chains expected to be announced.

On its website Macmillan and Wright have said that work will be completed in March 2015. The Sutton Guardian is seeking to clarify wheteher the company means March 2016.