Architects and other firms with accommodation and event passes booked for next week’s postponed Mipim face being on the hook for thousands of pounds each after the event was shifted to June.

On Saturday, Mipim organiser Reed Midem was forced to postpone the property show in Cannes until early summer after the French government banned gatherings of 5,000 people or more in a bid to contain the spread of coronavirus.

But companies that had been due to attend are now facing big losses after being told they are unlikely to get the money back they have shelled out for this year’s event.

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