re poorly run centres
I have found in recent times (since GFC) and consequent banks involvement in Centro affairs, that any income from Centres first goes towards debt reduction,(which has increased due to higher bank rates now charged) then customer retention incentives (to stay on in dificult times) and any other monies left is then used for urgent maintenace projects and maybe, maybe as reduced income payments to investors.
Before all this, activity was financed by increased debt when necessary to support income payment yield levels.
Now any activity has to be financed from Centre's income stream (bank constraints)which Centro's normal avarice asside,explains a little on why Centro are pushing hard on fees and hedging issues etc.
At the same time many staff have been retrenched , and those remaining are working under increased workloads making work standards more difficult.
As a Consequence, in recent times, it appears that attention to many normal non urgent maintenance proceedures has been less than satisfactory and Centres have suffered.
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