Modella Capital demands rent cuts from Claire’s landlords
Private equity firm Modella Capital has demanded rent holidays until after Christmas from the landlords of the stores it acquired as part of its £3.6m deal to save the struggling retailer, Retail Week understands.
Two sources with understanding of the ongoing discussions between Claire’s new owner and its landlords said that the private equity firm is demanding the stores trade rent free until after the crucial Christmas period, after which time Modella will then look to agree new deals with landlords in the New Year.
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