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CPPIB, Other Lenders Balk at Rescue of U.K. Mall Owner
- CPPIB among lenders to reject call for freeze to end of 2021
- Intu filed for administration Friday after debt talks failed
Shoppers pass a sign indicating the direction of walking around the Lakeside shopping centre, operated by Intu Properties Plc, in Thurrock, U.K.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Talks to rescue U.K. shopping mall owner Intu Properties Plc collapsed after lenders including Canada Pension Plan Investment Board balked at a request to grant a moratorium on debt payments until the end of next year.
Intu, which owns nine of the U.K’s top 20 shopping centers, fell into administration on Friday after failing to reach a deal with its creditors.