Shopping centre landlord Intu took a £1.4bn writedown on the value of its properties in 2018, a year marked by two failed offers for the company and a steep drop in its share price.
In annual results published on Wednesday, Intu said the value of its portfolio dropped 13.3% to £9.2bn during the year as a crisis hit the retail sector, leading to a list of failures and falling demand for store space.
The drop in property values pushed the company to a loss of £1.2bn, down from a profit of £203m a year earlier. The shares fell 8.4% in early trading on Wednesday to 108.3p.
Click here for the full Times article (£)
