Primark demands rent cuts as rivals benefit from CVAs

Primark is demanding lower rents on stores

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

The value fashion giant, which has 189 UK stores, wants to pay less on leases that still have several years to run. In return for concessions by landlords Primark is offering to invest in refurbishments and extend leases.

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