Business
Trouble at the mall as landlords and tenants ponder mutually assured destruction – Commercial Real Estate News
Mall landlords and their tenants are no stranger to tension, but could the COVID-19 pandemic prove a tipping point?
This is not a bluff, Scott Evans, the chief executive of Mosaic Brands, has said of his threat to permanently close 300 to 500 stores in Australia unless landlords reduce rents.
Mosiacs network of about 1,300 apparel stores includes Katies, Noni B, Rivers, Rockmans, Millers and Crossroads. With stores shuttered temporarily due to COVID-19 restrictions, it posted a A$170.5 million loss in the year to June.
It and other retailers such as Premier Investments (owner of Just Jeans, Portmans and Jac…
-
Noosa News22 hours agoMeasles alert: Australia Zoo, Hospital ED, Sushi Hub, Holey Moley Mini Golf and train stations among QLD infection sites
-
Business22 hours ago1 ASX dividend stock down 43% I’d buy right now
-
Noosa News22 hours agoBanana farmers still salvaging fruit four weeks after ex-Tropical Cyclone Alfred
-
Noosa News14 hours agoTeenager sentenced to 12 years for ‘heinous’ Acacia Ridge murder