Update on shopping centre giant Intu enters administration...
Elected Mayor of Watford, Peter Taylor said: ‘Whilst the news today is clearly disappointing, the intu centre in Watford is known as an outstanding shopping and leisure destination that helps attract thousands of people to the town each year. The recent improvements, including the stunning new extension with a cinema and bowling alley, means the centre has a strong mix of tenants and lots to offer visitors. We believe it has a sound long-term future and that the administrators, KPMG, will find a buyer because of Watford’s strong local economy and regional pull across Hertfordshire and beyond.
‘It was positive news to see that the centre will remain open, as we know that people are returning to the High Street. With more businesses, including restaurants and bars, opening next week, we are expecting Watford to continue to be popular and busy as we emerge from lockdown.
‘The council owns the freehold of intu Watford, including the new extension. This puts us in a really good position as any changes to the long leaseholder requires our consent. This means we can help shape future arrangements and ensure what happens next protects local jobs and is best for Watford and our town centre.’