OMICRON Covid19 wave puts "The Mall retailers' Rent concessions issue'' back on table

07 January 2022, Mumbai:

Large retailers and restaurant chains have started discussions with malls and landlords for rental concessions, as weekend curfews and late evening curbs severely dent businesses, executives said.

"We have written to landlords and mall owners to renegotiate rentals; 70-75% of our business comes from weekends and dinner, which is gone," said Rohit Aggarwal, director of Lite Bite Foods, which operates Asia 7, Punjab Grill, and The Artful Baker: "We expect business to be impacted all through January-March."

Many such as Benetton, Jack & Jones-retailer Bestseller Retail, Vero Moda, Only, ethnic retailer Biba and Forever New have either begun informal discussions with mails and landlords for rental concessions or said they would do so in the coming weeks.

ET (The news article has not been edited by DFU Publications staff)

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