By Chris Bailey of Financial Orbit | Sunday 7 June 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
There has been a lot of debate about shopping centre operator Intu (INTU) on this website. For me there was little surprise when I read yesterday that the company has apparently put an administrator on standby as 'one banking source warned this weekend...that Intu could be declared insolvent within a fortnight if it fails to make sufficient progress in the negotiations with lenders'. As I have noted before this is all last chance saloon, will the banks prefer a zombie option or not? No doubt excitable times await for the shares next week.
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