Barclays Capital reported that Hatfield Philips posted an interim notice today regarding the fact that ILVA, the Danish furniture retailer, is in administration and is likely to close its three U.K. shops.

One of these stores, located in Gateshead, forms part of the collateral backing the Titan 07-3X CMBS transaction. The loan secured by this store makes up 5.1% of the original loan pool. Hans Vrensen, a director and head of securitization research at Barclays, said in a report today that this could directly hit the current ratings for the£4.2 million ($8.3 million) Standard & Poor's 'B' rated class G bonds in the deal.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.