Safestay Explores Property Sales As Shares Tumble
Safestay warned of winter liquidity pressures as trading missed expectations. Shares of the hostel operator dropped 29.4 percent following the announcement of potential property sales.
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Safestay plc shares plummeted 29.4% in Monday morning trading after warning of severe winter liquidity pressure. Year-to-date trading fell below expectations across its properties in the United Kingdom, Spain, and beyond. The hostel operator is exploring property sales and cost cuts to survive the muted winter period.
