Intu faces annual shortfall from Ashley's store withdrawal

Chapelfield Intu

Shopping centre landlord intu stands to lose out on a chunk of its annual rent and service charges if retail tycoon Mike Ashley follows through on his proposed withdrawal of all his stores from intu’s centres.

Ashley told the Sunday Times that he was planning to shut 15 stores in intu centres, a mix of Sports Direct, House of Fraser, Flannels, USC and Evans Cycles outlets, after the landlord’s refusal to accept his proposed new terms on four House of Fraser sites.

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