Hedge funds have ramped up their bets against under-pressure shopping centre owner Intu as it prepares to unveil a dramatic slump in the value of its properties on Wednesday.
Analysts forecast the company’s net asset value – a key industry measure – will have tanked by around a fifth after landlords across the sector were battered by a wave of retailers going bust and shutting stores last year.
Around 5.2% of its shares are now on loan to short sellers including Crispin Odey and Marshall Wace, the highest level on record and up from 1.9% as recently as November.
