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UK’s Intu eyes possible administration in fight for…

June 23 – Cash-strapped mall operator Intu Properties said on Tuesday it has appointed KPMG to plan for a potential slide move into administration as it continued talks with creditors on agreeing a debt standstill that would save the company.

The owner of Manchester’s Trafford Centre, Lakeside in Essex and several other properties in Britain and Spain added that the move was a “contingency” and that in the event KPMG would need to be funded by interested parties or risk its malls closing. (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)

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