Intu, owners of Trafford Centre and Lakeside go into administration
https://www.manchestereveningnews.co...owner-18494516
Centres staying open for now. Will be a massive blow for employment if they do close though |
Yes they are trying to get funding
Massive Debts https://news.sky.com/story/shopping-...ators-12015080 |
Feel sorry for all those people who'll lose their job.
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Two huge shopping malls, hope they can be saved
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They own a lot more too up and down the UK, including the Manchester Arndale.....so many job losses if they are forced to shut :sad:
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The Shops inside them are still trading nothing to do with the Mall owners debts The Council could take over control. |
...I think they own Chapelfield in Norwich and Eldon Square in Newcastle as well....very sad news...:sad:..
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Metro centre as well as Eldon Square.
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Merry Hill too, I imagine it'll be fine though, it's changed hands a few times before Intu came into the picture.
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Too many jobs to be lost and too many people to sign on benefits and stuff, the Government/local council will surely step in if it comes to closure.
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Wha!!!
Omg, the a13.. The last 20 mins home sweating to avoid the xmas rush and another hour onto that 20 mins... WHAT A BLOODY SHAME. |
There could be a takeover for the prime locations? I really hope there are no closures :/
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Vast majority if not all would be bought if it came down to it, probably on the cheap if the company busts.
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Nawt Lakeside
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The corporate structure that Intu is a part of makes the whole thing quite complicated. Apparently this wont really affect the shopping centres as the ownership falls to the banks etc that had already invested in them, so there *shouldn't* be that much knock on effect. What it affects is the ability of Intu to build new centres
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...Intu or whoever would own them, must be reliant on individual shop rents being paid as well...(...I’m not up on how these things work..)...but the individual retailers will be struggling as well to pay their rents with the close down of business they’ve had and Intu would have been relying on that...that must also be a knock on effect..?...
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...it’s whether they will be able to or want to resume the rent payments as well, there is so much still to be determined...whether this has shocked a new face to online buying, which previously would have been more gradual..?..we already were seeing the gradual rise of empty/vacated shop premises and actual retail outlets diminishing...but this forced online way, even for those who have been experiencing it for the first time...has kind of accelerated things, I would have thought... |
They reckon that online shopping advanced by 5 years in market share over the period of the lockdown and that it's unlikely to revert by much now things are opening up again. It's not just online shopping that has shot forward though, many service industries have made huge progress forward that will never go backward. A computer in nearly every home to facilitate home working/education is a global phenomena
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