Intu Properties, owner of the UK’s largest shopping centres, including Lakeside and the Trafford Centre, has said it is ‘likely’ to call in administrators KPMG. The company owns 17 shopping centres in the UK and three more in Spain. The heavily-indebted company, which has seen revenues plummet during lockdown, has so far failed to reach
Intu at risk as lockdown hits the retail industry hard Read More »
The Financial Times has reported that landlords in the UK are threatening legal action as more and more of their retail and hospitality customers follow their US counterparts by withholding rent as the coronavirus crisis hits home. Many landlords have received below a third of their usual rent after the Government said tenants would be
Landlords are now hit as retailers withold rent Read More »
An innovative commercial retail venture has achieved several notable milestones since its launch four years ago. Led by Gateshead College and shopping centre owner intu, handPICKED has generated £1.1m of sales and created 32 jobs since getting off the ground in 2014. It has also supported 152 students and 70 local businesses. Based in intu
Retail venture creates jobs and hits revenue milestone Read More »
UK retail sales suffered their biggest quarterly fall in a year as the ‘Beast from the East’ kept shoppers away from the high street. Sales volumes fell 1.2% in March, compared with February. Sales of clothing, petrol and food all suffered, according to the Office for National Statistics. Fifteen major UK retailers or restaurant groups
Retail news round-up: Beastly sales; rates rises hit stores; Amazon in top five Read More »
A bouquet for Intu: the shopping centre owner has partnered with the National Autistic Society to launch the UK’s first national ‘quiet hour’ for people with autism. It will take place in shops for a week from October 2. Intu will dim lighting and turn down music in its stores and restaurants at its centres
Editor’s news round-up Read More »
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