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Well GLA
React News late last night
"An incredibly sad end to the saga as administrators are told they will be appointed to intu tomorrow.
The company came remarkably close to agreeing a standstill with one lender - Canadian pension fund CPPIB - refusing to budge, which ultimately brought the whole proposal down"
Amongst the web of creditors investors will never know the motives of some whose interest might be best served to drive the car over the cliff
We here the outcome... 50/50 chance but I really think this will be saved at the 11th hour.. shifting the sp up to 8/10/12p minimum for starters..
This will end badly for individual investors. Another company destroying value. It's sad to read those posters who can't see it. They'll probably lose their entire stake.
Let’s see what mr Whittaker has to say he’s been very quiet in the news lately
Iwg the regus owner has been falling away...that is the sort of company that might fall sharply even though they have leeway and newly raised cash. All sorts of commercial businesses involved in properties
So it looks like shares will be suspended at 7 am then. We all knew this was a possibility. It may trigger a short term collapse in the commercial sector. The reits and many other landlord type companies may take a kicking. The government telling tenants, often large companies, don’t worry you cannot be evicted was a green light to stop paying the rent. So they have...even those that can well afford to.
Article source...doesn't give much.
https://www.retail-week.com/stores/intu-may-win-stay-of-execution-as-stand-off-with-lenders-goes-to-the-wire/7035158.article
Intu may win stay of execution as stand-off with lenders goes to the wire
By Hugh Radojev|25 June 2020
Embattled landlord Intu is teetering on the brink of administration as its standoff with lenders over debt repayments goes to the wire, but talks may end up being prolonged beyond tomorrow’s deadline.
Intu’s attempt to stave off administration is on a knife edge, but sources close to both Intu and its potential administrators have said talks could possibly extend into the early part of next week.
A source close to Intu said it was “impossible to call” what would happen but claimed ”if it was the administration scenario, and I sincerely hope it’s not, that would NOT be tomorrow”. (Friday 26th June 2020)
KPMG has been appointed by Intu to plan for a possible administration, and a source close to the accountancy firm also claimed that talks could drag on into next week or even beyond.
"Intu directly employs nearly 3,000 people, but is a disproportionately important player in many of the UK's regional economic centres, with a further 102,000 people working in its 17 UK shopping centres. Another 30,000 people work in Intu's broader supply chain."
Scary figures on the numbers of people this will impact and other businesses. IMO the Government should be offering bond options like the Fed to keep these huge sectors afloat through such times, I guess its okay too support football teams and airlines.
If this goes Pete Tong they might as well switch off the life support machine.
Time for beer.
How many people remember the chaos caused by Jack Petchy owning 25-30% of a bunch of Listed real estate companies back in 2008/9? When new capital was needed it was impossible as he had negative control but no cash. Rights issues were doomed to fail as it was obvious the nil paids would be dumped on the market. This company has been over leveraged and starved of capital for years. This was inevitable
Geuss the guy on advfn did know someone. Only in the stock market do you fully see how the media manipulate us and the sp prices!
The sky release says that 1 person close believes it will go bust tomorrow... further down the page it says others believe it has a chance of survival... i agree this is a story with an ulterior motive.... to scare people into selling... there has been no information leaks throughout this... sky with their double ended story want to just be right either way so have said bust but may survive.... should be bans on news like this
Revealed: The survival prospects of Intu Properties, Britain's biggest shopping centre-owner, have faded this evening; I understand the company behind the Trafford Centre is likely to fall into administration tomorrow (barring a last-minute reprieve)
Closed all their positions here today? Because? :-) £kerching tomorrow when this rockets north on good news RNS
True....they should have suspended trading until the results were released..
If they know they are going down, they are totally out of order ..
A deal Imo....now lets have a nice dreams and tomorrow will be revealed and no longer a mystery!
as this makes sense ,otherwise impossible to be the alternative..absurd and mayhem
Administration is in no one interest including the bond holders and creditors...
I don’t want to entertain the Over stretched negativity and speculations and I will not be selling comes what may..
Hero or Zero..
GL holders
I should add I had sold out ages ago but kept an eye out for any news to buy back in on
The article was posted after stock market closed.
If they are that close to going bust they shouldn't be allowing people to still invest
Need the Government to step in this moment and secure a last minute Standstill of 12 months.
Just scaremongering propaganda as they probably want the intu sp to go down as the sky financiers are loading up with cheap shares ready for the bounce tomorrow...
Sain
You are a pub bore
twelve thousand posts on himself
Being a tool.
I am now out of intu and this is my last post and a warning to anyone who takes notice of sain or others . I did well in intu because l was prepared to lose money amd backed my conviction there would be a spike. Please don't put anything into the market at the moment you can't afford to lose.
I hope for the staff it goes well
Surely before trading starts 7am? All speculation though they hold the jeys
Revealed: The survival prospects of Intu Properties, Britain's biggest shopping centre-owner, have faded this evening; I understand the company behind the Trafford Centre is likely to fall into administration tomorrow (barring a last-minute reprieve).