Retailers are trying to renegotiate the terms of their rental agreements, in a bid to lower costs as consumers stop spending. After months of falling sales, many retailers are finding they do not have the cashflow to pay their rent.
Shopkeepers interviewed by The Sunday Business Post said rents needed to fall by between 20 and 50 per cent in order to meet the new commercial realities. ‘‘From a retailer’s perspective, everything is contracting, and...
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