Struggling shopping centre owner Intu abandons £1bn cash call

Group says there is risk it could breach certain bank covenants when they are tested in JulyIntu Properties, the owner of the Trafford Centre in Manchester and Lakeside in Essex, has been forced to pull an emergency cash call after admitting “extreme” market conditions had left it unable to raise its minimum target of £1.3bn from jittery investors.The failure to secure the funding means Intu, which is struggling under a £4.5bn debt mountain, has missed the criteria set by