Ann Summers has won better property terms from landlords on most of its 100 branches but the refusal of property owners to be more flexible means a CVA may be considered for those where terms have not been struck.
Writing exclusively for Retail Week, Ann Summers chief executive Jacqueline Gold, said “there has been a fundamental shift in the retail property market” and she, like other retail leaders, has been seeking lower rent as shopping habits change and amid tough trading conditions.
Gold said she had been “really heartened by most of the conversations we’ve had with our landlords. The vast majority of them live in the real world and understand that circumstances have changed.”
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