Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Exclusive: Matalan joins retailers requesting coronavirus rent holidays

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.” 

 

Readers' comments (2)

  • Are Matalan doing the right thing and paying staff in full during this time? Despite pleas from workers, Matalan only closed the chain when Boris effectively told them they had no choice.

    Unsuitable or offensive? Report this comment

  • Matalan sadly don’t appear to care much about their employees!

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.