- Intu close to collapse after “running out of options”
- The retail landlord posted a 22 % drop in the value of its portfolio last week
Retail analysts have reportedly warned that Intu is on the brink of collapse after “running out of options”.
By guest author Sahar Nazir from Retail Gazette
Last week, the shopping centre owner posted a 22% drop in the value of its portfolio and its debt-to-asset ratio had increased to 68 %.
It also posted a GBP 2 billion loss, up from GBP 1.17 billion the year before.
Intu said the results were reflective of the ongoing challenges in the market, particularly the increased level of administrations and CVAs exacerbated by weak consumer confidence.