Clarks and Ann Summers target rent reductions
Clarks and Ann Summers are amongst the latest retailers to seek rent reductions from landlords. Clarks is seeking to slash up to 30 per cent from its store rents and is sweetening the request with lease extensions for certain sites. Meanwhile Ann Summers, which has already achieved some rent reductions, is pushing its remaining landlords to accept much lower rents.
This comes as government monies are being advanced to the local councils of certain town centres which successfully bid for funding to help them improve facilities and return their once thiriving shopping centres back to prosperity.