The boss of property giant Land Securities has warned that more retailers are in danger of hitting the buffers as a result of tough trading conditions.

Land Securities chief executive Francis Salway flagged his concern as he issued interim results, the Daily Telegraph reported.

Salway cautioned: “The retail outlook remains challenging and, in the absence of market-wide rental value growth, the onus is on property owners to actively manage assets to create value.

“It is clear that with the larger than anticipated fall in household disposable income, pressures on retail sales have increased and there is a greater risk of insolvency amongst retailers.”

Land Securities’ retail portfolio includes the St David’s centre in Cardiff, Cabot Circus in Bristol and One New Change in the City of London.