End of a dream for Intu as it heads for administration
The share price of the mall owner slumps 72% to a record low of 29c
26 June 2020 - 08:41
UPDATED 29 June 2020 - 13:55
Ten years after it was formed as a brainchild of the late billionaire philanthropist Donald Gordon, Intu Properties, the UK’s largest shopping mall chain, has entered administration and may not see out 2020.
Intu’s listing on the JSE main board was suspended on Friday after the company said that it had appointed KPMG as administrator after failing to secure an agreement to defer payments on some if its almost R100bn debt.
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