Schuh seeks rent reductions
Schuh has called in KPMG to review its options following a period of sluggish trading. It is seeking rent reductions across its 132 strong store estate and has not ruled out a CVA to achieve its goals. The retailer has already shuttered three stores in Germany and is not the only footwear retailer to struggle of late. Office, for example, is one of a number of retailers choosing to close as leases expire.
A spokesperson said: "Given the challenging trading climate for all retailers, it is prudent to review options for any eventualities in the market. We have no immediate plans for store closures and continue to invest in strategies to enhance customer experience including our new 2020 store design, customer recruitment and CRM."