Sanctuary outlines rescue plans for itself.

UK music group Sanctuary has unveiled a £110m rescue deal after revealing a fivefold increase in annual losses. Sanctuary said it would raise the cash through a shares issue after revealing losses had surged to £142.6m from £26.7m a year earlier.

It blamed the loss on an "awful" year in which it was hit by record release delays and a string of profit warnings.

Many of the losses stemmed from Urban Records, a firm it bought from singer Beyonce Knowles' father, it added.