Owner of The Mall at Cribbs Causeway loses more than a billion pounds

The owner of the Mall at Cribbs Causeway has suffered a collapse in the value of its properties after a "challenging year". Intu, which owns the shopping centre at Cribbs, saw £1.4 billion wiped off the value of its property portfolio to £9.2 billion in 2018.

The news comes as McDonald's and KFC announce they are pulling out of the centre in March. Intu has had a torrid year following two failed takeover attempts of the business and tough trading conditions that have seen swathes of retailers seeking rescue deals with creditors or falling into administration.

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