Announcement, July 2020
Announcement, July 2020
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With the news regarding intu currently making headlines, we thought it was appropriate to reassure all of our media partners that it is still very much business as usual for us here at Limited Space.
Despite intu going into administration, the centres will continue to trade and will be run by the appointed administrators whilst new owners or operators are secured.
The intu centres themselves, as an operational business, are very successful, with 9 of the group’s 17 centres being ranked in the top 50 in the UK and 4 being in the top 10. The portfolio operates with 95% store occupancy and welcomed back over 1 million people in the first week alone after retail reopened on 15th June.
The issues leading to intu’s administration come through the property value side of the business which has faced challenges due to valuations, lenders and, of course, the addition of COVID-19.
intu have been a valued and trusted partner of ours for the past 15 years with many hardworking and talented people operating behind the scenes. Our thoughts are with all those who are affected by this news.
Just to reiterate, the entire intu portfolio will continue to trade and run as per usual.
We will be continuing to produce regular updates on the situation but it was important to highlight that our media portfolio remains unchanged, unaffected and still very much in-play for H2 2020 and beyond.
If there are any questions we can help answer, please do not hesitate to contact your usual representative or email info@limited-space.com.
Many Thanks.
01 / January / 1970
01 / January / 1970
01 / January / 1970
01 / January / 1970
01 / January / 1970