Bullring centre owner plans to raise £825m to survive Covid-19 crisis

Hammerson announces cash call and stake sale to help it survive amid £3bn debt burden

The shopping centre owner Hammerson has announced plans to raise more than £825m through a cash call and the sale of its stake in discount shopping outlets, to help it survive a crisis in retail accelerated by the coronavirus pandemic.

The property group, which owns the Bullring in Birmingham and the Brent Cross shopping centre in north London, has a £3bn debt burden and said this month it was considering measures to manage its costs and cashflow.

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