Intu Properties PLC (03685527): administration
- Status
- In administration
- Administration began
- 2020-06-26
- Administrators
- James Robert Tucker, Gareth Slater
- Administrators' firm
- KPMG
- Formerly
- Capital Shopping Centres Group PLC; Liberty International PLC
- Incorporated
- 1998-12-14
- Location
- London
- Industry
- 64306 Activities of real estate investment trusts
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Weak consumer demand
- Shift to online / high-street decline
- Sustained trading losses
From the administrators' statement
Incorporated in 1998, the Company was renamed Intu properties pic on 15 February 2013, followed by the rebrand of most of its shopping centres under the Intu name from May 2013.
A LSE and JSE listed Company, Intu embarked upon a series of shopping centre acquisitions, which also increased its external debt liabilities. In addition to a complex group - structure, there are a number of different 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
Administrators' statement of proposals (2020-09-08) · Companies House register