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Lakeside owners warn they could go bust as coronavirus threatens to add to woes

PUBLISHED: 18:00 12 March 2020

Lakeside's owners have warned they could go bust Picture: GOOGLE MAPS

Lakeside's owners have warned they could go bust Picture: GOOGLE MAPS

Archant

Coronavirus could increase the pressure on the owners of the Lakeside shopping centre, as the company warns it could go bust.

Intu Properties, which owns the centre in Essex saw losses of £2bn for 2019, up from £1.17bn the year before.

The company revealed in results there was a 'material uncertainty' over its ability to continue as a going concern.

Chief executive Matthew Roberts said: 'In the short term, fixing the balance sheet is our top priority.

'We are focusing all our energies on moving the business forward.'

The coronavirus outbreak threatens to add to the group's troubles, but it said footfall had so far remained broadly unchanged in the first 10 weeks of 2020.

It is 'monitoring' the coronavirus crisis and potential impact on its sites if shoppers are forced to stay away.

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