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Intu shopping centres on the verge of appointing administrators
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dailystar.co.ukShopping centre giant Intu has warned it is on the brink of calling in administrators.The company has £4.5billion worth of debt and is facing a huge fall in rents from struggling retailers.
It has been in talks with creditors regarding standstill-based agreements. But an Intu statement warns: "Unfortunately, insufficient alignment and agreement has been achieved on such terms.""The board is therefore considering the position of Intu with a view to protecting the interests of its stakeholders.
This is likely to involve the appointment of administrators. A further announcement will be made as soon as possible."The group owns shopping centres including the Trafford Centre in Manchester, the Metrocentre in Gateshead and Lakeside in Essex.
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