Intu boss Matthew Roberts exits

Intu’s chief executive Matthew Roberts has left the troubled landlord a week after the REIT collapsed into administration. Roberts had been in the role for just over a year, after he was promoted from chief financial officer in April 2019. Staff were informed of his departure earlier today. Intu fell into administration last week after failing to get all of its lenders and bondholders to agree a standstill on its debt repayments. The landlord is mired in a £4.5bn debt pile; its corporate-level debt comprises a £600m revolving credit facility, as well as £375m of unsecured convertible bonds due in 2022. It also has several debt instruments secured against different shopping centres in various special purpose vehicles. Roberts had joined intu as its financial boss in 2010, after roles at Gala Coral (now known as Gala Bingo), Debenhams and Topshop/Topman. KPMG declined to comment. See also: intu’s administration: What happens next?  To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette