The owner of the Trafford Centre has warned it could collapse if it cannot find further funds after losing £2bn in 2019. Intu Properties - which owns nine of the country's top 20 shopping centres - has been struggling to cope with the shrinking High Street retail market for some time.
Last month, the group failed to reach an agreement with a Hong Kong-based investor for a refinancing package. Intu is laden with debts estimated to be around £5bn.
The value of its shopping centre sites has fallen by £1.9bn due to the downturn in the market. The company also made a £1.2bn loss in 2018 as it was hit by the collapse of several big-name retailers, along with others pushing through insolvency plans known as company voluntary arrangements (CVAs) to
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