Intu
This coverage examines Intu’s role and legacy in the UK shopping centre sector, with reporting on administration proceedings, asset sales, management changes, and the ongoing impact on tenants, landlords, and retail operations. Content is relevant for retail executives, property managers, and decision-makers assessing risks, opportunities, and strategic responses within large-scale retail property environments.
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Jun- 2020 -26 JuneShopping Centres
Intu collapses into administration
Intu has officially called in administrators, after weeks of speculation that the group was on the brink of collapse. The retail property giant issued a statement this morning stating that it was “likely” that the group would appoint administrators, after admitting that it had so far failed in reaching standstill…
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26 JuneCoronavirus
Intu admits appointment of administrators ‘likely’
Shopping centre owner Intu has admitted that it has so far failed in reaching standstill agreements with landlords and therefore is “likely” to appoint administrators. On 23 June 2020, Intu provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant…
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23 JuneNews
Intu braces for administration
Intu has placed administrators on standby as a “contingency plan” in the event that discussions with lenders fail. Reports that the group placed KPMG on standby first surfaced earlier this month. The shopping centre owner has now confirmed that KPMG has been brought in after stating that a failure to…
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17 JuneClothing & Shoes
Debenhams opens 38 more stores following ‘successful’ Monday reopening
Department store chain Debenhams has announced it will reopen a further 38 stores in England, following the “successful reopening” of 50 of its stores earlier this week. Debenhams revealed that four stores have also reopened in Northern Ireland, whilst the business awaits confirmation from Wales and Scotland as to when…
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9 JuneCoronavirus
Debenhams to close three more stores permanently
Debenhams has confirmed three more of its stores will not reopen once lockdown restrictions are eased next week. It revealed that three of its stores located in Intu shopping centres will close permanently after it failed to agree terms with the shopping centre owner. The stores are located within Intu…
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8 JuneCoronavirus
Intu places KPMG on standby as administration threatens
Shopping centre owner Intu has reportedly placed KPMG on standby in case it falls into administration ahead of an important period for the business. According to Sky News, Intu will appoint KPMG to handle an insolvency process if lenders refuse to freeze its debt obligations. Intu has reportedly requested a…
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5 JuneCoronavirus
Debenhams prepares to reopen 50 UK sites
Debenhams has announced it is preparing to reopen a 50 of its sites in England in phases from the beginning of next week. The department store announced three stores with street access will open in Northern Ireland on 8 June, including the Belfast flagship, with Debenhams’ two remaining stores in…
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May- 2020 -7 MayCoronavirus
White Stuff to cut jobs as it prepares for post-lockdown retail
Fashion retailer White Stuff is reportedly set to cut both sales and head office jobs as it prepares for like after lockdown. According to Sky News, the retailer is set to make “significant” redundancies as it anticipates a reduced demand and shorter opening hours once lockdown restrictions are lifted. It…
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7 MayDepartment Stores
Debenhams cuts over 1,000 jobs as five stores shutter permanently
Embattled department store chain Debenhams has revealed that five of its stores housed in Intu shopping centres will not reopen post-lockdown, effectively slashing over 1,000 jobs. A Debenhams spokesperson said the retailer will continue to engage in “constructive talks” with its landlords and has agreed terms on the vast majority…
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1 MayCoronavirus
Intu appoints to chief restructuring officer to ‘fix’ balance sheets
Shopping centre owner Intu has announced the appointment of David Hargrave as chief restructuring officer to “fix” its balance sheet amid the Covid-19 pandemic. Hargrave has 33 years of experience in the transaction business of ‘Big four’ accounting firms, where he held senior positions at PwC, from 1987 to 200…
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