Shares have plunged more than 20% at Intu after the shopping centre owner revealed it had been forced to abandon plans to raise up to £1.5bn to pay down its debt.
The firm, which owns the Trafford Centre in Manchester and Eldon Square in Newcastle amongst others in the 海角视频, said market uncertainty had deterred investors.
It was a major frustration for Intu boss Matthew Roberts, who had hoped the funds could help reduce the firm's £5bn debt.
Intu said investors were put off by the equity market and the retail property investment market.
However, Mr Roberts said "a number of alternative options" had been presented during the process and the company will explore these further.
Shares fell more than 20% following the announcement, plunging to just 6.61p and at the time of writing are 20.97% down at 8.4p.
Intu had announced plans to raise the money, revealed to be between £1bn and £1.5bn, in the middle of January.
The first warning signs came a few weeks later, when Link Real Estate Investment Trust, based in Hong Kong, announced that it was not interested in the fundraise. Intu had named it as one of the investors it was in discussions with just a day earlier.
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The Financial Times reported at the time that Link was "quite surprised" to have been named, according to people briefed on the situation.
Mr Roberts said: "We remain focused on fixing our balance sheet in the near term to ensure this business has the financial footing it needs to realise its significant potential.
"While it is disappointing that the extreme market conditions have prevented us from moving forward with our planned equity raise, I am pleased that a number of alternative options have presented themselves during the process which we will now explore further.
"We have a concentrated and well-invested portfolio of many of the 海角视频's best retail and leisure destinations where both shoppers and customers want to be.
"Operationally our business is strong, delivering a resilient rental performance despite ongoing pressure from CVAs and administrations, with stable occupancy rates and footfall that consistently outperforms the benchmark.
"Our centres are the best performers in the regions in which we are present and independent research shows that stores with intu outperform retailers' average sales by nearly 30 per cent.
"This is a compelling proposition and one that will stand the test of time.
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"We will face further challenges in what has been an extraordinary few months for intu and the wider sector, but I am confident that we will face these head on and emerge a leaner, fitter and more focused business"
In the update to shareholders, Intu revealed that its 海角视频 shopping centres had weathered a 2.5% drop in footfall across the sector, and managed not to lose any customers.
It kept guidance unchanged for 2020, saying results would decline but at a slower rate than last year when like-for-like net rental income fell 9.1%.
Last week the firm announced it had agreed a £440m revolving credit facility (RCF) that will run until 2024 after securing the agreement of its seven banks.
The facility replaces a £600m credit package due to come to an end next month, which was in place with the same banks: Bank of America, Barclays, Credit Suisse, HSBC, Lloyds, Natwest and UBS.
However, the new agreement was contingent on Intu raising at least £1.3bn of equity as it tries to pay down its debt.