Intu Braehead shopping complex taken over by new management

One of Scotland's largest shopping centres, Intu Braehead, has been taken over by new management after going into administration.

The complex on the outskirts of Glasgow will now operate under the management of Global Mutual and Savills.

Intu, which also owns the Trafford Centre and the Lakeside complex, said in June that it had not reached a financial agreement with its lenders.

Into Braehead will keep its existing name and branding in the short term.

The centre's director Peter Beagley said: "Today is an important milestone for Intu Braehead as we begin a new chapter under different management.

"We have a great team who have worked tirelessly over the past few months to enable the centre to reopen safely and continue delivering for our visitors and tenants."

Intu's 17 UK centres were partially shut during the coronavirus lockdown, with only essential shops remaining open.

The company had about 60% of shopping centre staff and about 20% of head office employees on furlough.

Earlier this month, the leisure and entertainment complex next to Intu Braehead was saved from administration.

The future of Soar, formerly Xscape, was secured after a takeover by Debenture PLC from Intu.