It has been reported that retailers have been locked out over rent disputes.
At least two retailers are unable to get into their stores in Westfield Shopping Centres over unsettled disputes regarding unpaid rents. One of the retailers concerned is Mosaic as well as the brands that they operate. Mosaic has been actively pushing for rent reductions from Westfield, explaining that footfall to the location have been practically non-existent.
Westfield-owner Scentre Group has shuttered 129 stores operating under the Mosaic Brands’ banner causing around 400 staff members to be deployed to stores that remain open. Richard Facioni, Chairman of Mosaic has commented: “These actions are extremely disappointing, given the current environment, and difficult to comprehend in the context of a relationship that spans close to 40 years.”
