Shares in struggling British shopping centre operator Intu Properties Plc jumped more than 20% on Monday after a report that private equity firm Orion Capital Managers was considering a buyout of the company.
Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the Bicester Village owner.
Global shopping malls giant Unibail-Rodamco-Westfield has reported solid results, but its UK operations (the London Westfield malls) suffered from the same problems we heard about at rivals Hammerson and Intu this week.
Primark may be one of the most successful fashion retailers in the UK (and beyond) at the moment, but given that it’s fully dependent on physical shops as it has no online operations, it's feeling the pain of high rents.
Intu Properties named Robert Allen as chief financial officer, the latest appointment in a wide-ranging management shuffle as Intu wades through the effects of a string of retail collapses and Brexit gloom.
Sergio Bucher, the CEO who hoped to turn Debenhams around but has presided over its decline, is expected to set down from his role within the next few days with some observers saying news could come as soon as Monday.