Britain's biggest shopping centre-owner Intu says it is likely to appoint administrators after talks with creditors have stalled. It added: “The board is therefore considering the position of Intu with a view to protecting the interests of its stakeholders. A further announcement will be made as soon as possible.”Intu's biggest shareholder is Peel Group, with a near 25pc stake. Intu employs about 3,000 staff across the UK, while a further 102,000 work for the shops within its shopping centres. It warned on Tuesday that its malls may be forced to shut if it was unable to secure the standstill agreement.

Source: Irish Independent June 26, 2020 08:37 UTC