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. Hammerson said it would change some of the brands available in its centres, and would introduce a new type of lease, including more flexible leases and rents rebased to more affordable levels. […] The group said the easing of lockdown restrictions had led to improving footfall and sales in its centres, as it reported its results for the first half of the year.
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