Swedish landlord Oscar Properties Q4 post-tax loss widens (updated)

Oscar Properties Holding AB

26/04/2024 18:38

(Adds detail on liquidity situation, quote)
       April 26 (Reuters) - Swedish landlord Oscar Properties
 OP.ST  said its strained liquidity situation could affect its
ability to continue operations as it reported a wider
fourth-quarter loss than a year earlier on Friday.
    Losses after tax widened to 1.4 billion Swedish crowns
($127.95 million) in the final three months of 2023 as it
grappled with a nationwide real estate market crisis, from a
year earlier loss of 400.9 million crowns.
    "The company's liquidity situation is strained and several
measures are being taken to improve the situation," Oscar
Properties said in a statement on Friday.   
    The landlord has been in sales talks in order to realise
value and repay expensive loans, but a sluggish transaction
market in the third and fourth quarter meant the deals were not
completed, it said.
    Holders of the company's bonds have applied to Stockholm
District Court for it to be declared bankrupt.
    The company said on Thursday that its chair and another
board member were leaving the group.

($1 = 10.9416 Swedish crowns)

 (Reporting by Louise Breusch Rasmussen in Copenhagen and Marie
Mannes in Stockholm, Editing by Louise Heavens, Kirsten Donovan)