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Genuinely feel sorry for the towns and cities that would be affected if Intu closed its doors as this will affect all retail market...
If we lose our shares ..that is a small problem for punters but when they lose their jobs with their future and shopping centres to go and have some nice time ..all is more important and far serious than ours...imv
Let’s hope the political elites intervene today..
Rise?
Really?
Aim is full of surprises and never say never..
The massive trade was a trade...looked like a buy...BUT!
It says " likely to collapse" ....
That’s not what the article says.... it’s says ‘likely’ to fall into administration so they know nothing more than we do.
They literally paraphrased the news lol. Best regards to all the INTU punters. Hopefully, people would be smart to think with their brains and not emotions to sell out now before it's too late....
Intu has collapsed into administration as just been reported by Evening Standard....
https://www.standard.co.uk/business/shopping-intu-debt-malls-collapse-retailers-a4480766.html
Surprised they know this before an offical RNS.
Was always a massive gamble. Shame it came so close without crossing the line. Must be a reason the one bondholders held off agreement. Probably has a plan to buy up property from a dim at rock bottom prices. Oh well.
Massive trade yesterday .
Shorts closing ?
Going down to the wire a weekend of talks .
80% admin
20% 10 bag
Could rise today on speculation
IF you sell someone is buying....
is that someone more stupid than you, bigger balls than you or maybe knows more than you?
My advise would be to sell all your stake here. This company is gg bust. I made the same mistake when I was in BZM. Sell now to get back something. It's better than NOTHING. gla.
Going to be a long messy problem for all involved now, don’t think there’s any point selling shares. Could this be the last and final power move to get an agreement sorted, wishful thinking maybe
Maybe a 7:30 RNS coming?
Should have been suspended until outcome known.
Steps are supposed to be taken to ensure an orderly market....is that likely today...opening price and finish? Any ones guess.
Not sounding good...and yet if they were a million miles away from agreement surely they would have called it a day by now.
Decisions!
GL.
SELL what you can today folks it’s going bust and into admin
Here is the thrust of it - Since that update, discussions have continued with the intu Group’s creditors in relation to the terms of standstill-based agreements. Unfortunately, insufficient alignment and agreement has been achieved on such terms.
Update on their website. Not looking good I’m afraid.
One day left. It’s all or nothing today
As the RNS says, time runs out at midnight
The government should’ve involved and helped....this is not only Intu stakeholders problems but its also about jobs and public interest...
Shame!
Srostron
Here it is Matthew Roberts seen in Derby
https://www.derbytelegraph.co.uk/news/derby-news/naked-man-walking-around-intu-4264498
Still trading .
Very close to agreement
Huge risk v 10 bag
How can a news article be published before a RNS confirmation ? can you access the full article.
https://reactnews.com/article/lender-refuses-to-budge-to-send-intu-into-administration/
Thanks for sharing!
It’s interesting, in 2017 CPPIB lent intu 250 million and it was indirectly secured by the Trafford centre.
I’d have thought that the Trafford centre was one of their highest value properties, and one for which the property valuation would experience least % change. With appropriate management, this centre shouldn’t be failing covenant testing - it must be horrifically over leveraged.
https://www.retailgazette.co.uk/blog/2019/12/intu-sells-spanish-shopping-centre-405m/
Guess the Canadians (joint partner of Puerto Venecia ) had some control over the dispersal of monies which wouldn't allow the monies from the sale to be dispersed to put out fires elsewhere within INTU