Brixton could turn to capital raising

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The real estate group Brixton could turn to capital raising in the near future to shore up its cashflow.

It announced that it was to start looking into a number of ways to find extra finance following a 28 per cent plunge in its share price.

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The group said: "Given the ongoing challenging market conditions in the real estate and financial markets, the board of Brixton is pursuing a range of options … including disposals from its investment portfolio, as well as … equity raising."

Brixton's board was quick to reaffirm that no decision had yet been made and it would make a further announcement "when appropriate".

The financial services Bibby recently warned British firms that they must look to alternative routes for fundraising if they are to survive the recession.