StockMarketWire.com - Retailing landlord Intu Properties said it had gone into administration but that all of its shopping centres would continue to trade.

An application had been made for James Robert Tucker, Michael Robert Pink and David John Pike of KPMG to be appointed as joint administrators to the company.

'Underlying group operating companies remain unaffected and all shopping centres are continuing to trade,' Intu said.

The company said its relationships with its tenants were with those operating companies and not the companies entering administration.

The operating companies would enter into transitional services agreements with the administrators to ensure continuity of service provision to individual shopping centres.

Intu had already indicated earlier on Friday that it was likely to appoint administrators as it buckles under a large debt pile amid the Covid-19 crisis.




Story provided by StockMarketWire.com