Business
Westfield locks retailers out of stores as rent battle escalates – Sydney Morning Herald
Westfield shopping mall owner Scentre has begun locking non-rent-paying retailers out of their stores in a dramatic escalation of tensions between major landlords and their retail tenants.
The Age and The Sydney Morning Herald understand other retailers have been issued similar notices over potential store closures, including luggage retailer Strandbags.
Mosaic had been paying Scentre a lower percentage of rents in recent months and had attempted to come to an agreement with the landlord over a new rental agreement moving forward, which was not agreed to by Scentre.
Scentre’s approach is the newest escalation of tensions between landlords and major retail tenants over rental amo…
-
Noosa News20 hours agoDriver arrested after life-threatening hit-and-run on outskirts of Ipswich, Queensland
-
Business22 hours agoThis ASX 200 mining stock is eyeing the lithium throne
-
Noosa News22 hours ago150 jobs in doubt as Bega winds down peanut processing plants in Queensland
-
Business20 hours agoThe best ASX shares to buy and forget for 10+ years