Matalan has asked landlords for a three-month rent break to mitigate the economic impact of coronavirus, Drapers can reveal.
The fashion and homeware retailer is among others asking for rent concessions amid the ongoing crisis which has led to the government ordering all non-essential retailers to close shops.
New Look also has asked for three months rent-free and ailing department store Debenhams has made the same request, alongside asking landlords to consider further rent cuts and store closures as part of its ongoing company voluntary arrangement (CVA).
Monsoon Accessorize has also deferred rent payments for the next three months.
A spokeswoman for Matalan said: “Along with the rest of the retail sector, Matalan finds itself in an unprecedented situation. Prior to announcing our store closures, we saw a significant reduction in-store footfall and traffic online, severely impacting the sales performance. As a result, we are working with our stakeholders and taking the necessary action to manage the impact, and protect the business, colleagues and customers during this challenging period. We want to thank our dedicated employees and stakeholders for supporting us through this difficult time.”