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Nottingham Post
Nottingham Post
National
Ben Reid

Intu chief executive steps down from role after company's collapse into administration

The chief executive of intu has left his position after the UK's biggest shopping centre company collapsed into administration.

Nottinghamshire Live understands that Matthew Roberts had decided to leave the role he had held since April 2019.

Mr Roberts had been Intu's finance chief before being promoted to the top job last year, Sky News reports.

Broadmarsh and Victoria Centre owner intu announced it had collapsed into administration and appointed KPMG in a bid to protect itself from lenders over £4.5billion of debt.

The intu group has struggled under its debt burden for the past year, but has been hammered by significantly lower rent payments from retail tenants since the coronavirus outbreak.

The administrators retained key Intu operational staff to ensure the continued running of its 17 UK shopping centres.

Intu directly employs nearly 3,000 people, with a further 102,000 people working in its UK shopping centres.

On Monday July 6, Nottinghamshire Live reported that control of the half-demolished Broadmarsh shopping centre is being handed back to Nottingham City Council following intu's administration, according to the Government.

In the wake of the administration announcement, the Broadmarsh redevelopment has since entered compulsory liquidation which will hand back control of the site to the city council.

The city council owns the freehold for the shopping centre but KPMG said each one its 17 centres is individually owned by what is called a Special Purpose Vehicle or a Propco - a secondary property company created to hold and manage real estate.

KPMG declined to comment on Mr Roberts' departure from intu.

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