The leader of South Lanarkshire Council has warned East Kilbride town centre faces "radical decline" unless its fortunes are transformed.
It comes after the owners of EK, East Kilbride - Sapphire - have become insolvent, plunging the future of the centre into uncertainty.
Blair Nimmo and Alistair McAlinden of Interpath Advisory were appointed joint administrators at the Court of Session in Edinburgh earlier this week.
The blow just a few weeks before Christmas follows a series of difficult years for the centre.
Council leader, Joe Fagan, told Lanarkshire Live it's in "all our interests that East Kilbride can thrive again".
"There are two futures for East Kilbride shopping centre – radical change or radical decline," he went on.
"Our administration support a masterplan to make the whole town centre area fit for the future.
"We can work together to leverage in funding and find better uses of town centre spaces but we need to have certainty from the private sector to allow us take forward a plan that works and can attract wider support."
Proposals have been muted which could see the former Sainsbury’s Olympia unit transformed into a purpose-built civic facility in place of the current Civic Centre - creating a new "front door to East Kilbride" - alongside town centre housing.
Mr Fagan added: "East Kilbride town centre needs to diversify and densify. That means more mixed uses to create steady and recurring footfall.
"There is no future for the centre as an empty shell. Modern, successful town centres are mixed-use places – not just places to shop but places to live, socialise, work and spend time with family and friends. It’s time to stir the giant and unleash East Kilbride’s potential."
East Kilbride MSP, Collette Stevenson, said she will do whatever she can to get "the right outcome for people in East Kilbride".
She added: "It is welcome to hear that the shopping centre will remain open with day-to-day operations unaffected, and that there are no staff at risk of losing their job.
“With the busy festive period ahead, I would encourage people to shop local where possible to support businesses here.”
East Kilbride MP, Dr Lisa Cameron, said: "I am keen to put forward an EK town centre bid this year to the UK Government Levelling-Up fund.
"Town centres are going through difficult times and a plan involving reconfiguration and modernisation for the future of EK is urgently required."
Central Scotland MSP, Monica Lennon, said: "East Kilbride shopping centre going into administration is worrying for residents, workers and business.
"As a local MSP, I will do all I can to support efforts to secure a sustainable future for the centre. We all want East Kilbride shopping centre to thrive and with the right plan, a brighter future is possible."
Counterpart, Graham Simpson MSP, added: "It's a real concern that the owners of the town centre have gone into administration. Town centres in general are struggling and East Kilbride is no different, which is obvious to anyone who lives here.
"I will be seeking a discussion with the administrators to see what the future holds. It may be that we need to rethink what the town centre is."
David Booth, executive director of community & enterprise resources at South Lanarkshire Council, said: “An initial meeting has taken place with the administrators and all parties have renewed and reinforced their commitment to work together for the best future for the town centre.
"Although this is an unsettling time for those working in the town centre, we hope the administration process will bring a period of stability that will allow long-term strategies to be implemented.
“These are challenging times for town centres everywhere, but the council has been clear on its ongoing commitment to support and invest in all of our town centres."
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