Intu SGS secures 30 million pound investment

Intu SGS, the holding company for Intu Watford, Lakeside, Victoria Centre in Nottingham and Braehead in Glasgow, has secured 30 million pounds of new investment and waivers on financial covenants.

Creditors have approved a new super senior facility of up to 30 million pounds as well as other previously withheld cash.

Intu fell into administration in June following failed crunch talks with its lenders, though its shopping centres have continued to trade. Intu said in July that since stores in the UK were allowed to reopen following lockdown, footfall across 13 of its shopping centres has been “steadily improving week-on-week”.

Photo credit: Intu Lakeside

 

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