About: http://data.cimple.eu/news-article/92fd40ebcd031d34b212ecfccde2f99c6c1354149f5eee649fae65ea

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About: http://data.cimple.eu/news-article/92fd40ebcd031d34b212ecfccde2f99c6c1354149f5eee649fae65ea Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	British shopping centre giant Intu, already hit hard before the coronavirus lockdown, warned Friday that it was on the brink of collapse after talks failed to restructure its finances. The debt-laden firm, which owns 17 giant shopping malls including MetroCentre and the Trafford Centre in northern England and Lakeside in the southeast, was seeking to progress talks with creditors before a midnight deadline. Intu employs around 2,500 staff but another 100,000 people work at shops and restaurants inside its facilities, while another 30,000 are involved on the supply side. Shopping centres in Britain were forced to mostly close for almost three months after the government imposed a nationwide lockdown on March 23 in a bid to halt the COVID-19 outbreak -- further hurting Intu which has been in trouble for some time as people increasingly shop online. Lockdown restrictions began to be ease this month but it would appear too late to save Intu. In a statement on Friday, Intu announced that "insufficient alignment and agreement has been achieved" with its creditors. "The board is therefore considering the position of Intu with a view to protecting the interests of its stakeholders," it added. "This is likely to involve the appointment of administrators. A further announcement will be made as soon as possible." Administration is the process whereby a troubled company calls upon independent financial help in a bid to restructure the business, remain operational and to try to minimise job losses. Intu on Tuesday said that some of its shopping centres "have reduced rent collections as a result of COVID-19", adding that malls may be forced to shut. KPMG has been put on stand-by in case the group enters administration, while there was also "a risk that centres may have to close for a period", Intu stated earlier in the week. jbo-rfj/bcp/bmm
schema:headline	UK shopping mall giant Intu says facing collapse
schema:mentions	2020 coronavirus outbreak in Singapore Shopping mall England national football team Impact Wrestling Lockdown Lockdown United Kingdom Severe acute respiratory syndrome coronavirus 2 Lakeside Shopping Centre MetroCentre railway station Intu Properties KPMG Trafford
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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