Intu to enter administration as lender talks collapse

Intu_Trafford_Centre_PA_575_375
By Mariam Meskin
26 Jun 2020

Intu Properties, the UK shopping centre owner, is set for collapse as it looks to call in administrators following failed discussions with lenders around debt standstills. Some fear the effects could ripple across the struggling retail sector.

The borrower's £600m revolving credit facility covenant waiver expires at midnight. On Friday morning, it announced that talks with creditors around its standstill-based agreements had deteriorated, stating "insufficient alignment and agreement has been achieved on such terms". 

Those terms included the duration of the debt repayment standstill, which Intu ...

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