Intu, whose sites include Lakeside in Essex and the Trafford centre in Manchester, has been seeking new funds after being hit by the tough conditions facing the retail sector.
It has borne the brunt of company voluntary arrangements - a form of insolvency used by retailers to restructure leases with lower rents - from brands including Debenhams, Toys R Us, House of Fraser, New Look and HMV. It warned in its latest update that if conditions worsened it could be in breach of certain debt covenants - conditions attached to corporate loans - that need to be met by July.
Intu has already disposed of assets including shopping centres in Spain, cut capital spending, and suspended its dividend as it seeks to shore up its finances.
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