StockMarketWire.com - Food courts and publishing business Time Out said the spreading coronavirus had let to the closure of all six of its food markets.

The company said it had also experienced a slowing of advertising revenues.

'Given the material uncertainty of the situation it is not currently possible to quantify the full trading impact of the outbreak,' Time Out said.

The company said it had cash reserves of £11.4m and an undrawn debt facility of £18m, alongside various cost mitigations and other available options.

For the year through December 2019, operating losses had deepened to £13.4m, from £11.4m on-year, even as revenue rose 58% to £77.1m.

Time Out said it had delayed the release of its 2019 results in full, in line with a request from the UK financial regulator.

At 8:50am: [LON:TMO] Time Out Group Hc Ltd share price was -7p at 45.5p



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