By George MacDonald2019-10-04T06:09:00
John Lewis & Partners has become the latest retailer to demand better terms from landlords.
John Lewis has told the landlords of some of its properties that it will withhold 20% of this quarter’s service charge, the BBC has reported.
The department store business maintained that service charges, covering costs such as security, are too high.
However, the initiative prompted anger among some landlords and could result in legal challenges to recover any money lost.
The demand comes as retailers endure torrid trading conditions and in the wake of the John Lewis Partnership’s first interim loss in its history.
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