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.
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.
“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.
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.”
Manchester’s historic Portico Library awarded huge grant to secure its future
The funding has helped secure the future of the 218-year-old building
The Grade II-listed Portico Library will receive almost half a million pounds to transform the historic building.
The funding has helped secure the future of the 218-year-old building – a much-loved gem standing proudly on Mosley Street.
Thanks to the National Lottery Heritage Fund, the £453,000 will see the treasured library undergo a huge revamp and preserve its book collection.
During its development, local communities in Manchester will be invited to help work on the project.
With particular focus on environmentally sustainable architectural plans, it aims to unite all three original floors of The Portico Library for the first time in 100 years.
The ground floor will be transformed into a ‘Northern bookshop’ which will hold educational activities, with areas for dining, exhibitions areas and meeting spaces.
While the upper floors will showcase the library’s incredible book collection and archives, which includes the first edition of Charlotte Brontë’s Jane Eyre.
John Carpenter, Chair of the Portico Library, said: “The news that The National Lottery Heritage Fund is supporting The Portico Library’s bold scheme to open up and share its extraordinary heritage and collection, to Manchester residents and visitors, is a major cultural signal to Manchester, the North and the UK.”
He added: “This visionary project, years in the making, fulfils our mission of working with the many people in Manchester to explore, share and celebrate their diverse stories and the city’s literary and global heritage.
“Embracing creativity, collaboration and inclusivity, the project will unlock the Library’s past to plan for the future. We would like to thank the National Lottery players who have made it possible to realise our vision.”
Handwritten note with ‘plan to kill’ Brianna Ghey found in accused girl’s room
The note was found during a police search
A handwritten note with alleged details of a ‘plan to kill’ transgender teenager Brianna Ghey was found by police in the bedroom of Girl X.
The crumpled paper note (pictured) was discovered by officers during a search conducted at the accused’s home in March, more than a month after the tragic death of the 16-year-old.
Brianna was found after being stabbed 28 times in Culcheth Linear Park, Warrington, earlier this year.
The teenager was discovered by dog walkers just after 3pm on Saturday, February 11th.
Girl X from Warrington and Boy Y from Leigh both deny murder. During the trial, jurors at Manchester Crown Court heard how Girl X sent a picture of the handwritten note to Boy Y on February 3rd.
The note began with the header: “Saturday 11th February 2023. Victim: Brianna Ghey.”
It continued: “Meet Boy Y at wooden posts 1pm. Walk down to library…bus stop. Wait until Brianna gets off bus then the 3 of us walk to Linear Park.
“Go to the pipe/tunnel area. I say code word to Boy Y. He stabs her in the back as I stab her in the stomach. Boy Y drags the body into the area. We both cover up the area with logs etc.”
In her opening speech, prosecutor Deanna Heer KC told the jury: “It is clearly, the prosecution say, a plan to kill Brianna Ghey.” During the same search on March 17th, officers found a note found in a drawer headlined ‘plan’.
Details in the note continued: “Give them alcohol with sleeping pills.
“Slit throat. I kill her. Dismember body. Place pieces in bin bags, bury bags 7ft underground, bones including.
“Get her to go to Linear park, go to the hidden spot near the bridge I usually go to. Someone jumps out and restrains her (plan B). I kill her.”
During the search, police also found a computer tablet and a black notebook.
Jurors heard that written in the notebook was the word ‘anarchy’ on one page, and on another there was a list of ‘what is right and wrong’. Another page had a ‘spider diagram’ with ‘good and ‘evil’ in the middle.
The ‘legs’ of the diagram lead to the words ‘forgiveness, justice, morality, good, suffering, evil, sin and free will’, the court heard.
On another page there were the words ‘Valentine’s gifts’ and on another the words ‘revision HW’. Prosecutor Cheryl Mottram said: “Homework, perhaps.”
Written on another page were the words ‘types of serial killers’, with a list under the heading.
Words underneath included ‘organised and disorganised’, ‘mass murder’, ‘psychotic’, ‘organised crime’ and ‘copy cat’. On another page were the words ‘films’, and ‘faves’.
Another page was headed with ‘Jeffrey Dahmer’ and then a ‘list of characteristics’. There were also notes about ‘John Wayne Gacy’, the ‘killer clown’.
The notebook also had written inside it a note which read ‘potential threats’ and ‘people that need to go’.
Another page had Boy Y’s name on it followed by a ‘list of qualities or attributes’. Underneath was written the words ‘trustworthy, funny, sociopath, good sense of humour, very very smart, genius level and not sociable’.
Officers also recovered a black purse inside a ‘cubby hole’ with a handwritten note inside.
The note read: “Friday 11th November, attitudes to forgiveness.” Jurors were told the note contained two names, including Gee Walker.
“Forgives her son Anthony’s killer,” it read. And continued: “Julie Nicholson, who could not forgive the terrorists who killed her daughter Jenny.”
Three handwritten notes were also found on the floor of the room. One read ‘serial killer facts’, with a ‘list of facts relating to serial killers’ including ‘killing themselves in police custody can be a final act of control’, ‘hedonism’ and ‘power and control orientated’.
Other notes made were ‘cruelty to animals’, ‘bed wetting past age of five’, ‘USA has the most serial killers’, ‘lack of empathy for others’ and ‘can be superficially charming’.
One note read ‘Dr Harold Frederick Shipman, aka Dr Death’, followed by the words ‘classification, serial killer’.
And jurors were told there was also a note in relation to ‘Richard Ramirez, or the ‘Night Stalker’.
The trial, which began on November 27th at Manchester Crown Court, continues.
Hugh Grant and wife Anna donate £20,000 ‘Britain’s kindest plumber’
A lovely Christmas gift to help those in need
Hugh Grant and his wife Anna have donated £20,000 to Burnley plumber James Anderson.
Dubbed ‘Britain’s kindest plumber’, James Anderson set up Depher, which stands for Disabled and Elderly, Plumbing and Heating Emergency Response, back in 2017.
Originally a plumber who offered services to those in need for free of charge, Mr Anderson now runs the community interest company.
Depher provides plumbing work free of charge for those who are struggling in the cost of living crisis.
Since it began in 2017, Depher has helped more than half a million people across the country and relies on donations from the public.
Now, Hollywood actor Hugh Grant and his wife Anna, who both arrived in Manchester on Thursday December 7th to attend the Chanel Métiers d’Art fashion show, have made a donation of £20,000 to help those in need this winter.
The couple have also donated tens of thousands of pounds to the Depher cause in the past.
Anderson called the kind donation a ‘Christmas gift’ and said it brings the total they have donated to £75,000.
Sharing the news on the Depher Twitter page, Mr Anderson wrote: “After speaking privately to @HackedOffHugh and Anna Grant I have permission to share their wonderful #Christmas gift to @Depheruk.
“This wonderful and humbling donation of £20,000.00 will give hope to thousands of people, families and children, especially with the #CostOfLivingCrisis.
“They both have my lifetime of respect and love.”