Max landlords agree to rent haircut

Staff reporters
Fri, 19 Jun 2020

Landlords of struggling retailer Max Fashions have agreed to a rent haircut, enabling the company to trade on, albeit with a much smaller footprint. The owners of the women’s fashion brand decided to restructure, having barely received any revenue during the covid-19 lockdown. It told landlords it would close 17 outlets, but still needed them to agree to reduced rents. Under the proposal, the directors estimated that if trading goes as forecast, continuing landlords would lose about 30-to-40 percent of rent for the 2021 fin...

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