March 12, 2020 / 7:27 AM / 17 days ago

Intu flags going concern doubt as loss balloons to over $2 bln

March 12 (Reuters) - UK shopping mall operator Intu Properties on Thursday flagged doubts over its ability to continue as a going concern and reported a bigger annual loss as real estate valuations declined against a tough retail backdrop.

The company, which this month failed to secure vital new funding and was at risk of breaching debt commitments, said loss for the year ended Dec. 31 was 2.02 billion pounds ($2.59 billion), compared with a loss of 1.17 billion pounds in 2018. ($1 = 0.7809 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)

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