High-street retailers rebel against rent
By Kate Pritchard, published 1 year ago in Startups.
Carphone Warehouse founder Charles Dunstone and Top Shop tycoon Sir Philip Green have united with other British retailers in a campaign to change the way they pay rent.
Comments
Add a commentRelated Content
- Sir Philip Green: the definitive profile
- Matthew Riley on AIM float: "Sir Philip Green was my adviser"
- Sir Philip Green starts his Christmas shopping
More from this section
According to The Times, 16 retailers – who pay a combined £2bn in annual rent – have signed up to the revolt against landlords.
So what’s their gripe? The high-street retailers want to pay their rent a month in advance rather than quarterly, claiming that the bulk upfront payments are putting enormous pressure on their cash flow.
The rebellion comes at a time when retailers’ sales have been squeezed by the credit crunch and many smaller players have been forced into administration.
0 comments.
There are currently no comments. Be the first...