The UK mall owner is grappling with liquidity issues, saying on Wednesday it was close to selling two Spanish assets
The different levels of a new Debenhams department store are seen at Intu Properties' Watford shopping centre on September 24 2018. Picture: REUTERS/ PETER NICHOLLS
Intu and other JSE-listed, UK-focused landlords, including Capital & Counties Properties, have been under pressure since that country voted to leave the EU. Brexit has resulted in an extended period of uncertainty, with the UK’s exit date having been repeatedly pushed back, with the latest delay until January 2020.
“Our number one priority is to fix the balance sheet. We have a clear plan to do this and are working to make material progress over the next six months, said Roberts. “We continue to consider all options to put us in the best position to deal with both our short and medium term liquidity requirements as we approach our next material debt maturity in early 2021.”
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