Up-to-date coverage of the latest events in UK retail.

Primark demands rent cuts as rivals benefit from CVAs

Primark is calling on landlords to slash rents by 30% as other retailers cut their property costs through CVAs.

Primark chiefs are “hacked off” that other retailers are gaining a competitive advantage from lower rents as a result of implementing the insolvency process, the Sunday Times reported.

Hammerson hit by retail CVAs and administrations

Rental income at retail property giant Hammerson’s top destinations has slid as retailers’ woes undermined performance.

Hammerson, which owns shopping centres including London’s Brent Cross and Birmingham’s Bullring, reported that net rental income at its UK flagship destinations was down 6.8% in the first half, “impacted by CVAs and administrations”.

Sainsbury’s eyes delivery tie-up with Uber Eats

Sainsbury’s has held talks with Uber Eats about launching a delivery service enabling customers to order convenience staples.

Sainsbury’s, which had planned to merge with rival Asda until the deal was stymied by the competition authorities, would supply products such as bread and milk through the service, the Telegraph reported.

The two businesses are understood to be working on a tie-up that would allow shoppers to order staples such as bread or milk from Sainsbury’s on the Uber Eats app.

A Sainsbury’s spokesman said: “We talk to many companies about potential partnerships that could help our customers access convenient and affordable products.”

Office Depot suffers credit insurance cut

The future of stationery specialist Office Depot UK is in question after a credit insurer withdrew suppliers’ coverage.

Insurer Euler Hermes, has told suppliers in the past fortnight that it would not provide cover for their trade with Office Depot Europe, owned by German investment firm Aurelius, the Telegraph reported.

Office Depot UK, launched in 1991, is part of the European business which also has a presence in 12 other countries.

Neither UK nor EU ready for no-deal, CBI warns

Business organisation the CBI has warned the government that neither the UK nor the EU is ready for a no-deal Brexit at the end of October.

A new CBI report, What Comes Next? The Business Analysis Of No Deal Preparations advises on 200t measures businesses can take to mitigate the impact, the BBC reported.

“While the UK’s preparations to date are welcome, the unprecedented nature of Brexit means some aspects cannot be mitigated,” the CBI said.

A government spokesman said the UK has upped the pace of planning for no-deal.