Lakeside owner Intu seeks debt standstills to avoid default
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(Reuters) - Struggling mall operator Intu Properties Plc warned on Monday it would likely breach its debt commitments at the end of June due to falling rental payments and will seek standstill agreements with creditors to ride out the coronavirus crisis.The owner of Manchester's Trafford Centre and Lakeside in Essex, Intu secured debt waivers until June 26 earlier this month and it said it was now proposing standstill agreements that would allow it to halt testing and repayments of debt..