StockMarketWire.com - Ailing shopping centre landlord Intu Properties said it was likely to appoint administrators as it buckles under a large debt pile amid the Covid-19 crisis.
The company said it had been unable to agree to standstill agreements with its creditors, ahead of a covenant waiver expiry Friday night.
'The board is therefore considering the position of Intu with a view to protecting the interests of its stakeholders,' it said.
'This is likely to involve the appointment of administrators.'
At 12:57pm: [LON:INTU] Intu Properties share price was -2.13p at 1.78p
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.