Hammerson's losses soar as virus hit property values
Updated / Friday, 12 Mar 2021
08:50
Shopping centre operator Hammerson has given a formal warning about threats to its ability to continue as a going concern
Shopping centre operator Hammerson has today posted a £1.7 billion loss for 2020 and gave a formal warning about threats to its ability to continue as a going concern.
The warning came as the value of properties sank in the Covid-19 crisis and the company launched asset sales to bolster its finances.
Shares in the company gained in initial deals after it said it had made £73m from the sale of the Brent South Shopping Park and its stakes in two French joint ventures.