Primark Seeks Rent Cuts After Rival Insolvencies: Sunday Times
A window display at a Primark fashion store in London.
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Primark is asking landlords to cut its rents in an attempt to compete with rivals that used insolvency proceedings to reduce costs and remain open, the Sunday Times reported, without saying where it got the information.
The fast-fashion retailer is asking for cuts of as much as 30% on contracts with several years left in exchange for lease extensions or refurbishments, according to the newspaper. Primark has 189 stores, most of which are leased, it said.