, Intu announced it would rely on standstill agreements until a revolving credit facility waiver deadline on June 26.
According to Intu's latest update, discussion points with stakeholders include the duration of a standstill agreement, which is not expected to exceed 15 months, the extent to which creditors will share future valuation recovery, and how its individual shopping centres will be funded. "Some centres have reduced rent collections as a result of COVID-19 and cash trapped under their financing arrangements which restrict their ability to pay for support from other entities in the intu group," Intu said in a statement.
In the event that it is unable to reach a standstill agreement, the mall operator said it is likely to fall into administration, and that some sites could close.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
The boost the High Streets need🤔
no problem. Brexit is a success. Be happy!
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
An inside look at Stanford's mental health innovation course - Business InsiderAn inside look at Stanford's one-of-a-kind course on mental health innovation, where students mingle with industry experts and develop business plans aimed at revolutionizing the healthcare industry (by AnikaNayak)
Source: BusinessInsider - 🏆 729. / 51 Read more »
Facebook drops censorship tools for Workplace - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. So deleteFacbook Ohhhh you can’t because you love being in everyone’s business.... 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »
US banks seek guidance on PPP loan forgiveness - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
SoftBank Vision Fund is cutting group to help investments IPO - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
3 guaranteed ways to reach your emergency savings fund goal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. One idea. Employers pay a living wage FFS!
Source: BusinessInsider - 🏆 729. / 51 Read more »