Finance

Intu seeks standstill agreements with lenders in effort to avoid collapse

By 2020-05-18T07:21:00

intu Trafford Centre

Source: Shutterstock/Smiltena

Troubled shopping centres giant Intu has said it is seeking standstill agreements with lenders in order to prevent expected covenant breaches.

The owner of shopping centres such as the Trafford Centre in Manchester and Lakeside in Essex said discussions about standstill arrangement with lenders have been ongoing since it agreed waivers for covenant breaches on some of its properties earlier this month.

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