Lakeside owner Intu's administrator-in-waiting seeks additional funding - Sky News
Reuters
Published Jun 11, 2020 11:27
(Reuters) - Intu Properties Plc's (L:INTUP) 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 https://news.sky.com/story/coronavirus-intu-administrator-seeks-12m-funding-12004670 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.
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Written By: Reuters
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