Retail faces a ‘bloodbath’ if more malls enter receivership

Nicholsons centre

Threat of administration grows among shopping centres as landlords struggle to meet loan repayments

It could be the first of many shopping centres that go under as landlords increasingly struggle to meet loan repayments against a backdrop of income erosion, falling values and failing retailers.

Private equity firms that rushed into the sector between 2011 and 2015 to buy secondary centres and leveraged the properties with 65%-plus of debt are now finding themselves in deep trouble.

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