Trafford Centre owner Intu has confirmed it has collapsed into administration after failed talks with lenders on Friday. The company, which revealed it had hired KPMG as stand-by administrators on Wednesday, said its shopping centres will continue to trade.
It comes just a week after non-essential retailers in England were given the green light to reopen, following the 11-week coronavirus lockdown.
The announcement came minutes after the London Stock Exchange suspended shares in the shopping centre owner. Intu said it has filed to appoint James Robert Tucker, Michael Robert Pink and David John Pike from KPMG as administrators for the company.