Time Out Group Plc (LON:TMO) has announced the closure of five markets across the US and Portugal in response to local government guidelines over the coronavirus outbreak.
The venue in Montréal remains operational, while the AIM-listed firm did not say whether the Dubai and London ones are on track to open in 2020 and 2021, respectively, as planned.
The magazine and events company said it cannot estimate the hit on full-year results given the uncertainty of the situation.
Management is set to review funding and ability to manage costs.
Shares tanked 25% to 61p on Monday late morning.