Metrocentre and Eldon Square owners have collapsed into administration

The owner of Gateshead's Metrocentre and Newcastle's Eldon Square shopping centre has confirmed it has collapsed into administration.

It comes after failed talks with lenders, but the company said its shopping centres will continue to trade.

Intu said it has filed to appoint James Robert Tucker, Michael Robert Pink and David John Pike from KPMG as administrators for the company.

The announcement came minutes after the London Stock Exchange suspended shares in the shopping centre owner.

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