Sadly talks to end the deadlock broke down today 26 June 2020 and the owner of the Trafford Centre goes out of business.
This leaves the Trafford Centre in the hands of KPMG who will try and find a buyer for the shopping centre which shouldn’t be too long.
Intu’s shares have been suspended in London and Johannesburg.
The owner has smaller shopping malls and it could be these that end up closing, the problem with Intu and others is that people are buying online which is making the high street less well off.
Trafford Centre bucks this trend though, this is the one place more so on a weekend where thousands of people visit, of course with the virus it has meant shops have been shut and not making any money, needless social distancing is a big factor in why business is falling down the plughole.
For the moment Trafford Centre will be open as usual and the more people spend in this shopping centre and others the easier it is for shops and big stores to get back to some normality although this will still take some time.
We know about stores closing in Sale due to the social distancing rules, it is killing these places and until they get rid of it entirely more places will close leaving us in the end with only those with the broadest shoulders left serving us all.