46 Jobs Slashed and Shopping Centers Operating Under KPMG’s Supervision

  • Intu cuts 46 head office roles after administration collapse
  • 15 additional roles cut at Intu Broadmarsh in Nottingham
  • John Whittaker resigns as chairman and non-executive director
  • Intu officially calls in administrators from KPMG
  • Shopping centres continue to trade under KPMG’s supervision

Intu Properties has reduced its head office staff by 46 roles following the company’s administration collapse in June. Additionally, 15 roles were cut at Intu Broadmarsh in Nottingham due to the property group entering compulsory liquidation on July 3rd. John Whittaker, former chairman of the shopping center owner, resigned from his positions as chairman and non-executive director on June 26th, the same day Intu entered administration. He had not attended a board meeting for three months prior. Intu officially called in KPMG administrators at the end of June amid speculation about its financial stability. The company’s shopping centers continue to operate under KPMG’s supervision while operating companies remain unaffected.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Intu’s job cuts and administration, as well as the resignation of John Whittaker. It also mentions the appointment of joint administrators from KPMG. However, it could provide more context on the reasons behind Intu’s collapse and the potential impact on its operating companies.
Noise Level: 3
Noise Justification: The article provides relevant information about Intu’s job cuts and administration but lacks in-depth analysis or exploration of the underlying causes and potential consequences. It could benefit from more context and discussion on the factors leading to the company’s collapse.
Financial Relevance: Yes
Financial Markets Impacted: Intu’s collapse into administration and subsequent job cuts impact the property and retail sectors
Financial Rating Justification: The article discusses Intu, a shopping centre owner, entering administration and cutting jobs, which has financial implications for the company and the property/retail industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text

Reported publicly: www.retailsector.co.uk