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Not good news for the Clan .....
- Thread starter kingmo19.1
- Start date
Whilst not impossible, this really shouldn’t effect the Clan (assuming they are paying their bills).
Either the (Intu) business limps on or it goes bust and the administrators move in. It seems highly unlikely that they’d just close the doors, as their job is to raise money for creditors and shutting the centre down doesn’t help with that. All of the businesses are presumably viable at ‘some level’ of rent, just not enough to service the debt that Intu‘s owners have taken on.
Wouldn’t be surprised to find that much of the debt it is being paid to “themselves” anyway.
The centre itself remains a viable business if sold on at a realistic (likely knock down) price, so the damage should fall on the creditors/shareholders rather than the tenants.
Possible that some of the arena staff are employed directly by Intu, so the club might suffer indirectly from cutbacks on that side.
Either the (Intu) business limps on or it goes bust and the administrators move in. It seems highly unlikely that they’d just close the doors, as their job is to raise money for creditors and shutting the centre down doesn’t help with that. All of the businesses are presumably viable at ‘some level’ of rent, just not enough to service the debt that Intu‘s owners have taken on.
Wouldn’t be surprised to find that much of the debt it is being paid to “themselves” anyway.
The centre itself remains a viable business if sold on at a realistic (likely knock down) price, so the damage should fall on the creditors/shareholders rather than the tenants.
Possible that some of the arena staff are employed directly by Intu, so the club might suffer indirectly from cutbacks on that side.