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Intu calls in advisers

Shopping centre owner Intu is reported to have drafted in advisers to work on a balance-sheet restructuring. 

Sky News said the owner of Manchester’s Intu Trafford Centre has hired PWC in the last few days. 

They will work alongside Intu’s existing financial advisers. 

The news comes after Intu issued an income warning in November. It said it expects full-year like-for-like net rental income for the three months to 30 September to be down 9% year on year, blaming company voluntary arrangements at Arcadia Group and Monsoon for “more than half” of the reduction.

Intu has been contacted for comment. 

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