GB: Mall Owner Intu Properties Goes into Administration

Intu Properties, the real estate and investment company headquartered in London which operates a number of shopping malls in the UK and Spain, goes into administration in order to avert imminent insolvency. The KPMG accounting organization was lined up as Intu’s administrator.

One of the reasons for the economic imbalance is the ongoing development of an ever-increasing online trade, which has been apparent for some time now and has been intensified by the current pandemic crisis. In order to make shopping malls attractive again for a broad target group, shopping mall operators are increasingly integrating new types of leisure activities such as VR experiences into their offerings (read our article on “Retailtainment” in EAP issue 2/2020).

The shopping centres operated by Intu Properties will remain open. (eap)