Retailers seek fairer rents

It was only a matter of time before those retailers not embroiled in restructuring exercises or administration were seeking to take a stand to secure their own rent reductions. The latest to join the fray is Primark which wields considerable bargaining power given the scale of its’ store chain. It follows Next and Waterstones which have both been reported as using the opportunity of imminent lease renewals to negotiate reductions. Other retailers, like Primark, seeking reductions part way through leases include Ann Summers and Schuh, both of which are seeking parity with those leveraging CVAs.