House of Fraser attacks greedy landlords
Posted: August 28th, 2018, 2:12 pm
Might this be a sign that REIT's and property companies may have to accept reduced rents in order to help high street retail survive?
https://www.bbc.co.uk/news/business-45328727
House of Fraser has criticised "greedy landlords" that are resisting new owner Mike Ashley's attempts to cut rents on the store chain's 59 outlets.
"Some landlords are being very collaborative in order to give us a chance at turning the business around, giving House of Fraser a lifeline and saving hundreds of jobs," a spokesman said.
"However, some greedy landlords would rather see the stores close than help save the jobs of hundreds of people.
https://www.bbc.co.uk/news/business-45328727