Shopping centre giant Intu likely to appoint administrators
The owner of some of the UK’s biggest shopping centres, Intu, has warned that it is likely to call in administrators.
The firm, which owns Manchester’s Trafford Centre and the Lakeside complex in Essex, said it had not reached an agreement in financial restructuring talks with lenders.
Intu warned this week that its troubles could see entire sites shut.
The company is the biggest shopping centre chain in the UK with 17 UK outlets and three in Spain.
Intu has already lined up administrators KPMG as a “contingency” in case financial restructuring talks with lenders fail.