- Food court operator and publisher Time Out said it had closed five of its markets in Lisbon and the US in response to the spreading coronavirus.

Time Out said it would review its funding and ability to manage its cost base.

The company said it had until now not experienced any material impact on its trading related to the COVIDÔÇÉ19 outbreaks.

'It is only in very recent days that we have observed any change in footfall to the Time Out Markets and delays to advertising campaigns,' it said.

'We have however been closely monitoring events and in response to local government guidelines and in the interest of customer safety we have temporarily closed the five Time Out Markets in Lisbon and the USA and await further advice.'

'Given the uncertainty of the situation it is not currently possible to quantify the full trading impact of COVID-19, which will be highly dependent on the duration and severity of the virus and the response by governments and consumers.'

A further updated would be provided on 26 March when the company publishes its annual results.

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