The owner of The Mall has warned profits are expected to fall in 2019 amid trouble on the high street.
Intu, which owns the Cribbs Causeway shopping centre, says rental income is likely to slide between four per cent and six per cent as the retail downturn continues.
The shopping centre giant has blamed the rise of Company Voluntary Agreements (CVA) - a controversial insolvency process which allows retailers to slash rents and shut shops - for its problems.
The process means landlords, such as Intu, are forced to take on the financial burden when retailers cannot pay rent as well as a growing number of empty shop units.
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A number of big-name brands have already disappeared from The Mall in 2019 or announced plans to withdraw including McDonald’s, Coast and KFC.
And Intu’s chief executive, Matthew Roberts, has warned the rest of 2019 will continue to be “challenging”.
He said: "The remainder of 2019 to be challenging due to a higher than expected level of CVAs and a slowdown in new lettings as tenants delay their decisions due the uncertainties in the current political and retail environments.
"As such, we have revised our approach to how we guide towards our year-end like-for-like net rental income to factor in expected CVAs and have adjusted our 2019 guidance accordingly."
Intu has faced a number of problems in the last 12 months, including a failed takeover bid and huge financial losses.
The business saw £1.4 billion wiped off the value of its property portfolio to £9.2billion in 2018.
In the first quarter of this year, annual rent generated dropped from £10million to 6million for the same time last year.
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Intu also cited shop administrations and the closure of Christmas pop-ups as the reason for the expected fall in profits.
The company added the “slow-down in completion of new lettings over the last few months as tenants delay decisions driven by a combination of continued Brexit uncertainty” were part of the issue.
Mr Roberts added: "Despite the current operating environment, I believe we have a very good business and am confident we can meet the challenges we are facing head-on."
