High rents may cause job losses

More than 60 per cent of retailers expect their businesses to fail within two years unless their rent is reduced, according to a survey by industry body Retail Excellence Ireland (REI).

Susan Mitchell

Deputy Editor and Health Editor @susmitchellsbp
6th June, 2009

More than 60 per cent of retailers expect their businesses to fail within two years unless their rent is reduced, according to a survey by industry body Retail Excellence Ireland (REI).

However, the survey of 134 REI members last week found that retailers were having little luck in convincing landlords to drop their rents. Some 97 per cent of the companies surveyed by REI had approached their landlords for a rent reduction, but just 14 per cent were successful.

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