June 26, 2020 / 6:23 AM / 8 days ago

UK mall owner Intu likely to go into administration as debt talks fail

June 26 (Reuters) - Intu Properties, which owns Manchester’s Trafford Centre and Lakeside in Essex, will likely go into administration after it failed to reach a debt standstill deal with its creditors, the company said on Friday.

Intu, which has KPMG as stand-by administrator, warned earlier this week that it may have to close some if its stores if it fails to get funding.

The debt waiver it secured in early May expired on Friday. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil D’Silva)

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