Blow for shopping center owner seeking buyer
Negotiations collapse and sale falls through at Intu Derby
Intu Derby's owner has been dealt a fresh blow after a deal to sell the shopping center collapsed
Intu Derby's owner has been dealt a fresh blow after a deal to sell the shopping center collapsed. Intu Properties had been in talks with London & Regional Properties (L&R) about a possible sale, but those negotiations have now fallen through.
The collapse of the deal is a setback for Intu, which has been struggling to sell off its shopping centers. The company has been hit hard by the COVID-19 pandemic, which has led to a sharp decline in footfall and sales. Intu has also been struggling to refinance its debts, and the collapse of the L&R deal will make it even harder to do so.
The collapse of the deal is also a blow for Derby. The city has been hoping to attract new investment and jobs, and the sale of Intu Derby was seen as a key part of that plan. The collapse of the deal means that Derby will now have to find other ways to attract investment.
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