Intu Shopping Centres PLC (02893329): administration
- Status
- Administration ended
- Administration began
- 2020-06-26
- Administrators' firm
- KPMG
- Formerly
- Capital Shopping Centres PLC
- Incorporated
- 1994-01-26
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- Weak consumer demand
- Shift to online / high-street decline
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Group embarked upon a series of shopping centre acquisitions, which significantly increased its external debt liabilities. In addition to a complex group structure, there are a number of complex debt and security structures across the Group. These cover both the core UK and Spanish real estate assets, as well as a number of central.Group entities: There are number of debt instruments in place (including associated hedging products), some of which were publicly traded.
The Company operated from its head office in London and did not have any employees at the date of our appointment. The Group’s c2,400 employees were employed by other ; Group companies.
3.2 Funding and financial position of the Company .
Administrators' statement of proposals (2020-09-08) · Companies House register