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INTU Have Gone into Administration

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Will this be a catalyst to speed up the downfall of the high street and push even more towards online shopping?

Or will this prompt a review of rent? I live near the metro centre and always see shops come and go and most of them cant afford the high rent!

Getsome
19 days ago
What do you think of this?
Mango4
Mango419 days ago

These own some of the biggest shopping centres in the country and as such I think this will be an attractive investment ( at the right price) for many other investment companies. Really can't see the likes of The Trafford centre in Manchester, Lakeside in Essex , the Metrocentre in Gateshead or Cribbs in Bristol closing, someone will buy them.

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Getsome
Getsome
Original Poster
19 days ago

Someone will step in but there has to be change for them to be successful again. The rent is too high and independent shops doesnt last long.

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Mango4
Mango419 days ago

Getsome Don't disagree with you, thou I think these type of centres are more interested in attracting multi national companies as opposed to independents.

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Getsome
Getsome
Original Poster
19 days ago

Mango4 They also put off larger companies, i know mike ashley (who i hate) moved his stores out metro centre and eldon square because the rent was too high.

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Mango4
Mango419 days ago

Getsome Doesn't seem to bother the landlords thou, they seem to prefer empty shops to lower rents, which defies logic in my opion.

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BonzoBanana
BonzoBanana19 days ago

It's not difficult to create a tax regime that favours the high street and retail parks over online sales and needs to be done slowly so as not to create huge issues for businesses who need time to adapt. Currently we have huge American owned online retailers taking a huge slice of the pie which of course is very damaging to our economy, we aren't the most patriotic of people to say the least, happy to export most of our wages but still complain when the NHS, schools and the police are underfunded and people suffer because of it and then they scratch their heads why their living standards are dropping etc. Like the rest of us I'm no different I use such online businesses, I would always look to buy elsewhere if I can if the same price from a UK supplier but ultimately always favour the cheapest supplier. Most of my Amazon purchases are cheap warehouse items probably 98% and the other 2% are offers. I would say its fairly easy to create a tax regime that favours UK businesses and makes large import purchases more expensive. Lowering tax on the service sector but massively increasing sales tax on certain goods can help a lot but we need to come out of the eu single market so if we tax large luxury cars at 40% we don't have cars directly imported from Europe with only a 5% sales tax. We can still have tariff free business between the UK and Europe though.

Ultimately we need policies that protect us from ourselves. At the moment there is about £67,000 of public sector debt for every income tax payer in the UK but I'm unsure how much to add for the huge public sector pensions shortfall, can't see any figures that have been done recently. It will be much worse than it was though as most full salary pension schemes are in the public sector and paid for through taxation mostly.

Sadly with public sector debt now outstripping our GDP we will be forced into more extreme measures a bit like other countries of the EU that got there before us.

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Mummy18
Mummy1818 days ago

I really hope someone steps in. It’s so sad for all these businesses

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JessHindle
JessHindle18 days ago

The Trafford centre in Manchester got a 150 million pound metrolink line so if they closed that would be a waste of money

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LeighReidAtanas
LeighReidAtanas18 days ago

This is so sad if a lot of people will lose jobs and the economy is slowly starting to getting worse

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ACR
ACR18 days ago

INTU were having problems before the outbreak and a 2018 takeover fell through, because of concerns over Brexit. I like INTU Lakeside, but it's a bit too far away from home for frequent visits.

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