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…
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