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realspeed
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26-06-2020, 05:04 PM
1

Intu

who own shopping centres have gone into liquidation.

Link
https://www.bbc.co.uk/news/business-53195980
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Last Tango
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26-06-2020, 05:34 PM
2

Re: Intu

Goodness, imagine the number of job losses within the shops located therein!
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realspeed
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26-06-2020, 06:54 PM
3

Re: Intu

Originally Posted by Last Tango ->
Goodness, imagine the number of job losses within the shops located therein!

The company employs 2,500 people and its wider supply chain supports about 130,000 jobs, which will now be in doubt.
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David P
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26-06-2020, 08:24 PM
4

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.
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realspeed
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26-06-2020, 11:44 PM
5

Re: Intu

Share holders loose out as well
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Tigsteroonie
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27-06-2020, 09:08 AM
6

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.
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27-06-2020, 10:34 PM
7

Re: Intu

Its a good job this catastrophe culminated in the summer.
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