Shopping Centre Giant Turns to PwC for Financial Assistance
- Intu appoints PwC advisers for restructuring
- Sales decreased by over 80% in the last year
- Rental income expected to decrease by 9% in 2019
- PwC has in-depth knowledge of Intu’s business
Intu Properties, the owner of major shopping centers such as Manchester’s Trafford Centre, Gateshead’s Metrocentre, and Essex’s Lakeside, has appointed PricewaterhouseCoopers (PwC) to assist in restructuring its balance sheet. This move comes after a 80% drop in sales over the past year and an expected 9% decrease in rental income for 2019. Intu has hired PwC due to their familiarity with the company, as they were previously the auditor. The shopping center chain is working on various actions to improve its financial situation in the coming months.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the appointment of PwC advisers by Intu properties and the reasons behind it. It also mentions the decrease in sales and rental income for the company. However, there is a slight lack of context on the overall financial situation and potential solutions.
Noise Level: 3
Noise Justification: The article provides relevant information about Intu Properties hiring PwC advisers for restructuring its balance sheet and the impact on their sales. However, it could benefit from more in-depth analysis or context on the reasons behind the decrease in sales and potential solutions.
Financial Relevance: Yes
Financial Markets Impacted: Intu Properties, shopping centers, retail sector
Financial Rating Justification: The article discusses the appointment of PwC advisers for Intu Properties’ balance sheet restructuring and its impact on rental income, which is related to financial topics and affects the company and the retail sector.
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.
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