It should be the sale of the century. Prime goods sold off at a more than 80 per cent markdown. But, as often when something looks good in the summer sales, the shiny malls of UK shopping centre owner Intu are not worth the risk even at knockdown prices. The decline of Intu has been as drawn out as it has been predictable, even if the precipitous fall in its shares in the two weeks since a poor set of results suggests worries are accelerating.
It should be the sale of the century. Prime goods sold off at a more than 80 per cent markdown. But, as often when something looks good in the summer sales, the shiny malls of UK shopping centre owner Intu are not worth the risk even at knockdown prices. The decline of Intu has been as drawn out as it has been predictable, even if the precipitous fall in its shares in the two weeks since a poor set of results suggests worries are accelerating.
Click here to read the full article (£)
