Some of the UK’s largest travel agencies could be affected by shopping centre operator Intu going into administration.
Intu runs 17 malls in the UK including Lakeside in Essex, Manchester’s Trafford and Arndale centres, Braehead Glasgow and St David’s in Cardiff.
The company went into administration on Friday (26 June) after last-ditch talks with creditors failed to keep the company afloat.
KPMG has been appointed as administrator and the shopping centres are set to stay open, according to media reports. Although KPMG has previously warned that creditors would have to pay £12 million to keep the centres open.
Virgin Holidays, Tui, Hays Travel and Kuoni are among the travel retailers to operate stores in several Intu’s shopping centres, although companies such as Tui and Kuoni have yet to reopen shops following the Covid-19 pandemic.
Barrhead Travel also has a presence in Braehead Glasgow and intu Eldon Square in Newcastle, while Co-op Travel, STA Travel and Flight Centre have at least one shop in Intu-owned centres.