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Trafford Centre owners ‘likely’ to go into administration

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Seth Whales

The owners of the Trafford Centre, Intu, have announced they are ‘likely’ to go into administration after talks about the future of the company have failed. 

The company made headlines this week due to its struggles with £5bn debt, with the future of the company up in the air.

Earlier this week the Intu confirmed they had put KPMG on standby as administrator, and was reported to be negotiating deals with lenders.

The company has now issued a new statement saying that these talks look to have been unsuccessful. 

Mike Peel

Intu says it is likely to make a further announcement ‘as soon as possible’, with a key agreement with creditors expiring on Friday at 11:59pm, the Manchester Evening News reports.

This uncertain future could lead the Trafford Centre to temporarily close. The company warned if it went into administration ‘there is a risk that centres may have to close for a period’.

In a statement, the company said: “On 23 June 2020, Intu Properties plc (“Intu”) provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant waiver expiry at 11:59 p.m. this evening, 26 June 2020.

“Since that update, discussions have continued with the Intu Group’s creditors in relation to the terms of standstill-based agreements.

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“Unfortunately, insufficient alignment and agreement has been achieved on such terms. The Board is therefore considering the position of Intu with a view to protecting the interests of its stakeholders.

“This is likely to involve the appointment of administrators. A further announcement will be made as soon as possible.”

Intu – which was already under financial pressure – has struggled in the coronavirus pandemic. In May, they threatened ‘robust action’ against large tenant businesses who haven’t paid rent throughout the lockdown.

The company says that for the first quarter of the year, the company only received 40% of rent and services charges which were due by the end of March 2020.

Intu Properties own nine of the country’s top 20 shopping centres and has been struggling for some time due to a shrinking high street market. 

Seth Whales

In 2018, the company made a £1.2bn loss due to the collapse of several big name retailers, along with many others pushing for insolvency plans to reduce rents known as company voluntary agreements.

On Tuesday this week, as Intu announced that KPMG was working on a ‘contingency plan’ for administration, it said: “Further announcements will be made as appropriate.

“Notwithstanding the progress made with lenders, Intu has also appointed KPMG to contingency plan for administration. In the event that Intu Properties plc is unable to reach a standstill, it is likely it and certain other central entities will fall into administration.

“In this situation, all property companies would be required to pre-fund the administrator to provide central services to the shopping centres. If the administrator is not pre-funded then there is a risk that centres may have to close for a period.”

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Man arrested following three attempted kidnappings of schoolgirls

A 33-year-old was arrested.

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Greater Manchester Police

Police have arrested a man following their release of CCTV footage featuring a car they believe was used in three attempted kidnappings around Salford.

A man driving the vehicle reportedly attempted to force a 15-year-old girl into the car at a bus stop in Monton on November 21st.

Detectives also think the same man ‘possibly’ tried to abduct another girl earlier that same day, as well as a third teenager five days previous.

Now police have confirmed that a 33-year-old man was arrested by officers today, Monday November 28th, on suspicion of three counts of attempted kidnap.

According to Greater Manchester Police, the victims have been left ‘extremely shaken up’.

Officers identified the vehicle in the footage as a black Vauxhall Astra with a silver cover on the driver’s side wing mirror.

Greater Manchester Police

Detective Inspector Chris Horsfield, of GMP’s Salford CID, said: “Although we have made this arrest, we are still very much looking to speak to anyone who may have information or dashcam footage, which could help us to establish the circumstances.

“We understand that the local community will be concerned but we are doing all we can to solve this investigation.

“I’d urge anyone who knows anything at all to please get in touch as soon as possible. In particular we are interested in the movements of a Black Vauxhall Astra 08 plate with a silver driver’s wing mirror cover; the passenger side is black.”

Police are still keen to speak to anyone with dashcam footage from the following times:

  • Liverpool Street, Salford, between Fitzwarren Street and Albion Way on November 16th, between 7:45-8:20pm
  • Mossfield Road and Ackworth Road, Swinton, on November 21st, between 8-9am
  • Rocky Lane, Monton Green and Monton High Street on November 21st, between 6-7pm

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Police believe this car was used in three attempted kidnappings of schoolgirls

Do you recognise the vehicle?

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Greater Manchester Police

Police have released CCTV footage of a car they believe was used in three attempted kidnappings around Salford.

A man driving the vehicle attempted to force a 15-year-old girl into the car at a bus stop in Monton on November 21st.

Detectives also think the same man tried to abduct another girl earlier that same day, as well as a third teenager five days previous.

According to Greater Manchester Police, the victims have been left ‘extremely shaken up’.

Detective Inspector Chris Horsfield said: “It’s very important that we get this man identified and off the streets as soon as possible.”

Police have identified the vehicle in the footage as a black Vauxhall Astra with a silver cover on the driver’s side wing mirror.

Greater Manchester Police

Anyone with dashcam footage from the following times, officers are keen to speak to you:

  • Liverpool Street, Salford, between Fitzwarren Street and Albion Way on November 16th, between 7:45-8:20pm

  • Mossfield Road and Ackworth Road, Swinton, on November 21st, between 8-9am

  • Rocky Lane, Monton Green and Monton High Street on November 21st, between 6-7pm

 

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‘Heartbroken’ family of three-year-old girl tragically killed in M6 crash pay tribute

‘RIP baby girl, we are all missing you and will carry on forever’

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Lancashire Police

The three-year-old girl who tragically died in a horror crash on the motorway this weekend has been named.

Faye Dawson, from Wallasey in Merseyside, died when an elderly driver’s Porsche collided with the car she was in on the M6 in Lancashire.

Emergency services responded to the incident, which happened between Preston and Leyland, at about 5.50pm on Saturday, November 19th.

The M6 was shut in both directions for several hours following the tragic incident, with two lanes of the southbound carriageway remaining closed on Sunday while emergency surface repairs were undertaken.

Lancashire Police

Faye’s family have now released a tribute, saying: “We can’t see the future without you, it has left a massive hole in our lives.

“Everyone says how precious their daughter/granddaughter is but you were an exception, you were such a clever little girl who was very funny and had us all laughing all the time.

“You were so loving and caring and above all very loved by everyone who met you. You’re now at rest with your great nanny, great grandad, and Uncle Jimmy.

“Words won’t justify how much we are all going to miss you and how much we all love you. Your mummy is being so brave, and she will continue to make you proud.

“You were too little to be taken away from us, but we know the angels will look after you and they’re lucky to have you dancing in the sky with them.

“We are all so heartbroken that you were taken far too young, but we are so glad that we got to have you for the time we did.

“RIP baby girl, we are all missing you and will carry on forever. All our love.”

Lancashire Police

Police think that the Porsche – which was being driven by a 79-year-old man who also died at the scene – crashed into the Vauxhall Meriva that Faye was travelling in.

The car then flipped on its side and burst into flames, with two adults travelling in the Vauxhall rushed to hospital.

Faye’s mother suffered serious injuries and is being treated in hospital, while a man who was in the car also received serious injuries.

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Officers are still appealing for witnesses. Sergeant Craig Booth, the serious Collision Investigator for Lancashire Police’s Tactical Operations Unit, said: “These are very sad and tragic circumstances.

“This was a traumatic scene for all witnesses and emergency services involved, I would like to pass on my thanks for their dedication in dealing with an incident which can only be described as horrific.

“We want to hear from any witnesses to the collision or those who have dashcam footage from the area around the time it happened.”

Anyone who witnessed the incident or has dashcam footage from the motorway can contact 101 – quoting log 1102 of November 19th, 2022.

 

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