Coronavirus: Shopping centre owner Intu warns it will default on debts as retailers stop paying rent during lockdown
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shopping centre owner Intu has warned it will soon start defaulting on its multibillion-pound debts as retailers stop paying rent during the coronavirus pandemic. One of the UK’s largest retail landlords, which operates sites including Manchester’s Trafford Centre and Lakeside in Essex, called on banks to stop taking repayments on its lending until December 2021. In the latest sign of the strain that lockdown measures are placing on Britain’s retail sector, which employs some 3 million people, Intu said rent payments from its tenants fell sharply in March. Intu is one of a number of shopping centre owners, including Hammerson and British Land, which have been hurt by the coronavirus crisis.
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Intu Properties deals fresh blow to struggling UK economy
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Intu warns shopping centres may close if administrators called in
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Trafford Centre owner Intu warns it may go bust as retail crisis deepens and annual losses surge to £2bn
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