Retail landlords agree cost saving scheme

| April 7, 2009 | 1 Comment

As the recession has kicked in, small retailers to well established chains have struggled with cashflow problems, which has caused many to go bust, and as a result has caused huge difficulties for retail landlords.

However a positive step has now been made by some landlords to be more accommodating, as the British Property Federation has announced that some members have agreed to helping out their retail tenants.

Many retailers are in the process of cost-cutting in order to stay in business, and as a result some landlords have agreed to help reduce cashflow problems as the current system was making things exceedingly difficult for retailers to manage in difficult times.

Following a successful pilot scheme in four shopping centres, a number of new strategies were tested with pilots in fashion chains, Next and New Look, with two of the nation’s biggest retail landlords, British Land and Land Securities.

Through the project, savings of between 10 and 20 percent had been achieved, with 10 new pilots expected to start this week.

Liz Peace, chief executive of the British Property Federation, has said that the measures will aid many retailers to stay in business and ride out the recession.

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  1. AlanE says:

    I am really glad Commercial Property owners are starting to see the light. It sees crazy they have not reacted before now to protect their own future incomes essentially.

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