Intu

who own shopping centres have gone into liquidation.

Link
https://www.bbc.co.uk/news/business-53195980

Re: Intu

Goodness, imagine the number of job losses within the shops located therein!

Re: Intu

The company employs 2,500 people and its wider supply chain supports about 130,000 jobs, which will now be in doubt.

Re: Intu

I do not think the shops and their staff will be directly affected. Intu's assets will be owned by the banks Intu is in debt to. The rental due t o be paid will go to the banks via the solvency company appointed. Same thing in reverse happened when I was made redundant from the car industry.

Re: Intu

Share holders loose out as well

Re: Intu

They've actually only gone into administration at this point, not liquidation, I believe? And the administrators (KPMG) are allowing the business to continue trading, so the shops aren't yet being told to close. TBH I doubt they ever will, these complexes are too large to close and therefore a buyer will be found from somewhere.

Re: Intu

Its a good job this catastrophe culminated in the summer.