Intu, the owner of a multitude of shopping centres across the UK is set to collapse into administration, after talks to reach an agreement for financial restructuring with its lenders failed.
The company has now seen its shares, that are listed on both the London and Johannesburg Stock Exchanges suspended. The firm has stated that it had appointed three administrators at the KPMG accountancy firm and that “the appointment is expected to become effective shortly”.
The company was one of the UK’s biggest shopping centre group, with 17 centres in the UK and three in Spain.
