23rd Mar 2021 12:03
Time Out Group PLC - London-based media and leisure company - Confirms its subsidiary, Time Out Markets Central London Ltd, has informed London & Continental Railways Ltd that it no longer intends to proceed with the development of Time Out Market London in Waterloo, due to the hit from the Covid-19 pandemic on its finances. Notes the decision does not change the need to secure additional funding as a result of the financial impact of repeated periods of pandemic-related containment. Says it is currently reviewing an equity funding proposal to ensure it has "financial and operational flexibility."
Current stock price: 39.95 pence, down 14% on Tuesday
Year-to-date change: up 11%
By Zoe Wickens; [email protected]
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