Dundrum Town Centre owners look to slash debt following lockdown

Dundrum Town Centre is part-owned by Hammerson, which operates shopping centres throughout Europe.

The co-owner of Dundrum Town Centre and Swords Pavilions is considering selling some of its outlets in order to cut debts.

Hammerson, which operates a number of shopping centres across Europe, may take the decision as it copes with the fallout from the coronavirus pandemic.

The majority of retailers all over Europe were forced to shut during country's lockdowns, causing people to turn towards online shopping.

Aidan Donnelly from Davy stockbrockers says the company has debts of almost €3 billion.

"Obviously, with Covid, they have seen an awful lot of their rent-roll being significantly reduced and the value of their assets being reduced. Therefore, the banks that own the loans that are outstanding are looking for them to reduce dow the debt pile."