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
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. ..