Owner of Intu Braehead set to go into administration today as firm fails to reach agreement with creditors
dailyrecord.co.uk£4.5billion with its creditors.The company, which owns 17 shopping centres across the UK, had asked lenders for an 18-month standstill on its debts in a bid to fix its balance sheet and generate income with the reopening of shopping centres south of the border.But in a statement to the Paisley Daily Express this morning, Intu Properties confirmed a deal has not been reached.The statement said: “The board is considering the position of Intu with a view to protecting the interests of its stakeholders.“This is likely to involve the appointment of administrators.“A further announcement will be made as soon as possible.”The Express revealed on Monday how the future of Intu Braehead was hanging in balance.The Renfrew shopping centre employs more.
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