Oct 4, 2019

John Lewis seeks discounts from its landlords

PA John Lewis is seeking discounts from its landlords to cut costs, in a highly unusual move that highlights the huge pressures on retailers. John Lewis said the charges had become too high and urged landlords to help. "In a statement John Lewis said:"At a time when we are doing everything we can to reduce our cost base, we have unfortunately been faced with regular increases to the service charges we pay for some of our shops in shopping centres. John Lewis is under contract to meet its service charge obligations and withholding a big chunk of it could put it in direct conflict with some of its property owners. John Lewis is one of Britain's stronger retail chains and has a reputation for plain dealing.

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