Liverpool City Council has legally terminated the contract for the Lime Street development scheme, due to the contractor, NMCN Ltd, going into administration.
The council’s highways department has already begun the task of making the site safe.
It will now seek to ensure Lime Street will be accessible as possible in the run up to the busy Christmas period for the city centre.
A full assessment of the site will now take place to establish what works are needed to complete the upgrade, with officers also undertaking a review of the scheme.
It is hoped the Lime Street development scheme will be completed before the start of Spring 2022.
The scheme is part of the wider Liverpool City Centre Connectivity (LCCC) programme, which has been designed to rebalance how motorists, cyclists, pedestrians and bus users access and navigate their way around the city centre.
A major focus of the programme is to improve road safety and improve the air quality of the city centre.