The owner of the Chapelfield shopping centre in Norwich has warned it could go out of business if it cannot raise extra funds.
Intu Properties, which also owns intu Milton Keynes and the Lakeside shopping mall in Essex, recorded a £2bn loss in 2019.
The firm was recently forced to abandon plans to raise up to £1.5 billion to reduce its debts, and is now looking at other options such as selling off more assets.
The collapse of the high street has meant landlords such as Intu are struggling to fill vacant space.
Over the last few years, the company has racked up debts of nearly £5 billion and there are now genuine fears that it could go bust.
"In the short term, fixing the balance sheet is our top priority," Chief executive Matthew Roberts said.
"We have options including alternative capital structures and further disposals to provide liquidity, and will seek to negotiate covenant waivers where appropriate. We are focusing all our energies on moving the business forward."