Struggling malls giant Intu is thinking the unthinkable at the moment and when it delivered its 2019 results on Thursday, it also warned that it’s in danger of collapse, if it can’t raise further cash.
French Connection’s annual results made bleak reading. The firm reported retail sales down and another big loss, as well as wholesale revenue falling. But at least its performance in North America seems to have improved.
Under-pressure property giant Intu has reported that its talks regarding an equity raise have failed as market conditions are too uncertain at the moment. It still has options but might have to sell more malls.
With its new CEO and short-term funding in place, Laura Ashley has released a weak set of results with losses increasing and even e-tail sales dropping. But the firm is upbeat and sees international opportunities ahead.
The week has started with some good news for the under-pressure malls sector with the latest UK footfall report from Springboard being headlined 'The start on the road to recovery for shopping centres'.