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Manolete Partners

The key reasons why intu collapsed into administration

The UK’s largest shopping centre company intu sent shockwaves around the world of retail as it collapsed into administration – sparking a host of questions and problems for Nottingham.

On Friday June 26 retail giant intu went into administration, leaving the Broadmarsh partially demolished and the company’s collapse has proven to be the biggest financial casualty so far during the coronavirus pandemic.

But the company said its shopping centres will continue to trade for the time being despite its insolvency as KPMG were appointed as administrators.

Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.