The cost of the transaction on the restructuring of the difficulty retailers are starting to mount at property company British land amid “difficult” conditions on the British high street.
The business says that the cost of the administrations and company voluntary agreements (brew) from 1 April 2017 rose to 1.6 PC of its total rent roll, 1pc in may. Brew to include brands for the rent review with the landlord to stay afloat, and recently used by retailers including New look, carpetright website and line.
“The retail market remains difficult,” British Land said on Tuesday. “The impact of long term structural changes caused in the network are exacerbated by short-term trading headwinds”….
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