Intu races against the clock to avoid debt blowout
British mall owner needs creditors to give it a break on interest payments by June 26
23 June 2020 - 19:37
Intu Properties, which was formed out of the late billionaire Donald Gordon’s Liberty International 10 years ago, has reached its darkest hour as it tries to get its creditors to waive terms on £600m (R12.9bn) of loans until the end of next year.
Failure to do so could send the company into administration and some of its malls may shut down, leading to thousands of job losses. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.