Intu sells Spanish shopping centre for £245m to pay off debt January 28, 2020 Retail landlord Intu has sold a shopping centre in Spain for €290m (£245.3m), as the company seeks to fix its balance sheet and repay debt. Intu, and its joint venture partner Canada Pension Plan Investment Board, has sold the Asturias shopping centre to ECE European Prime Shopping Centre Fund II, with Intu’s share of the [...]
Intu shares fall as it enters talks to raise more money January 20, 2020 Intu today confirmed it will seek to raise equity as it works to patch up its shaky balance sheet after a dreadful 2019 for retailers. The commercial real estate giant today insisted it was making “good progress” on improving its balance sheet, hailing a “busy” Christmas and saying footfall was 0.3 per cent up last [...]
Retail landlord Intu to seek £1bn of emergency cash January 19, 2020 Shopping centre landlord Intu is preparing to launch an attempt to raise £1bn in emergency funding following a torrid year for the UK retail industry. The property firm, which owns Manchester’s Trafford Centre, has been hurt by the challenges facing the retail industry, as brands such as Topshop, Debenhams and House of Fraser have closed [...]
Intu sells retail park to New River REIT for £40m November 25, 2019 Retail landlord Intu has sold a Northern Ireland retail park to property investment trust New River REIT for £40m. The sale of Sprucefield Retail Park in Lisburn brings Intu’s year-to-date disposals total to £268m, as the shopping centre operator aims to fix its balance sheet. Read more: New River REIT swings to a loss on [...]
Intu shares jump on reports of Orion Capital buyout September 9, 2019 Shopping centre owner Intu led the FTSE risers this morning following reports of a potential buyout led by Orion Capital Managers. Read more: Intu share price fall continues after dividend cancellation Orion, run by private equity tycoon Aref Lahham, is said to be seeking partners for a buyout of the struggling company, which has felt [...]
Intu share price fall continues after dividend cancellation August 1, 2019 Shares in retail landlord Intu continued to fall this morning after the Trafford Centre owner yesterday cancelled its dividend as it fell to a £900m loss. Intu’s share price was down as much as 6.7 per cent at 44.6p this morning before recovering slightly to 45.45p. Read more: Intu share price crashes at it cancels [...]
Intu share price crashes as it cancels dividend amid mounting losses July 31, 2019 Intu’s shares plummeted this morning as it cancelled its dividend and fell to an almost £900m loss for the first six months of 2019. The retail landlord admitted there were “no quick fixes” as it blamed the wider retail collapse for its property woes. Read more: JP Morgan downgrades shopping centre landlord Intu Instead it [...]
Shares fall at shopping centre owner Intu as it warns on rental profit May 3, 2019 Shopping centre developer Intu's share price fell 6.7 per cent this morning as it warned 2019 losses may be worse than expected this morning as the troubled property firm battles with a challenging retail environment. Read more: Intu sells major stake in Derby shopping centre to cut debt The company, which welcomed former finance boss [...]
Intu Properties to appoint finance chief Matthew Roberts as new boss April 3, 2019 Shopping centre owner Intu Properties plans to appoint its finance boss as its new chief executive during a challenging time for the retail sector. Intu, which owns the Trafford Centre in Manchester, is expected to announce that current chief financial officer Matthew Roberts is its new chief executive as early as tomorrow, Sky News reported. [...]
Sports Direct and Intu strike deal to save four House of Fraser sites January 22, 2019 Four House of Fraser stores have been brought back from the brink of closure following a deal struck between Sports Direct and shopping centre landlord Intu. Last-minute talks between Mike Ashley’s sportswear firm and Intu Properties has led to department stores in Norwich, Thurrock, Gateshead and Nottingham being saved, having previously been earmarked for closure. More [...]