Britain’s biggest shopping centre owner Intu has fallen into administration but says its sites will remain open and continue to trade.
The collapse of the group, which owns the Trafford Centre in Manchester, the Metrocentre in Gateshead and Lakeside in Essex, will arguably be the most significant corporate casualty of the coronavirus pandemic so far.
The appointment of KPMG comes after talks with creditors stalled.
Trading shares in the company were earlier suspended after dramatic falls.
The group has struggled under a £4.5bn debt burden for the past year, but has been hammered by significantly lower rent payments from retail…
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