June 11, 2020 / 10:26 AM / 2 months ago

Lakeside owner Intu's administrator-in-waiting seeks additional funding - Sky News

FILE PHOTO: A entrance to Intu Lakeside in Thurrock is seen, following the outbreak of the coronavirus disease (COVID-19), Thurrock, Britain, May 2, 2020. REUTERS/Paul Childs/File Photo

(Reuters) - Intu Properties Plc's (INTUP.L) administrator-in-waiting is looking for additional funds from creditors to keep some of the struggling mall operator's best-known avenues open during an insolvency process, Sky News reported here on Thursday.

The report said the funding request by KPMG for 12 million pounds was designed to “focus minds” as the company’s lenders decide whether or not to grant an 18-month standstill on its 4.5 billion pounds debt pile.

Intu, which owns Manchester’s Trafford Centre and Lakeside in Essex, did not immediately respond to a Reuters request for comment.

Reporting by Samantha Machado in Bengaluru; Editing by Krishna Chandra Eluri

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