The fast-fashion retailer is withholding an eye watering £33M rent on all of its closed UK Stores amid the global pandemic surrounding coronavirus. The rent was due on Wednesday 25th March to cover general rent and also service charges. The store closures will cost Primark £650M a month in lost sales.
A spokesperson said: “These are exceptionally difficult times and, like many retail businesses, we are looking closely at options to mitigate the significant impact of lost sales due to the Covid-19 outbreak.”
“Given that all our stores are closed for the foreseeable future, we are asking our landlords to support us by agreeing terms that will help offset some of the impact. We hugely value our relationships with our landlords and we look forward to resuming our normal trading relationships as soon as possible when our stores reopen.”