UK warehouses company Brixton is reportedly looking to sell off some of its major assets, in a bid to raise cash to pay off debts.

The company owns warehouses at Park Royal and Heathrow, though it is unclear at this stage as to which properties will be earmarked for sale.

On March 3rd, the company announced that Peter Dawson, formerly Brixton’s Investment Director, was to be appointed Chief Executive. He succeeded Tim Wheeler who was fired from the company after dithering over a rights issue, which now looks too late to implement as shareholders grow more bearish over the property market. The company has a market value of just #48 million now after its shares crashed 90% earlier this year.