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Bloomberg
UK mall landlord Intu Properties Plc may struggle to continue operating due to high debts and plunging asset values, its auditors warned.
Intu shares declined as much as 16% last week, bringing their loss for the year to 83%. Its unsecured bonds due in 2022 fell 7 pence on the pound to 30 pence, the lowest level on record, according to data compiled by Bloomberg.
The company is already highly indebted and expects further declines in rents and property values, according to a company statement.
In addition, there’s the looming threat of the coronavirus outbreak, which has already forced store closures in countries including Italy.