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2019-06-20 21:07:18| Guardian Unlimited Business - more business news

Owners could pay more into their ailing businesses instead of calling landlords for rent cutsSir Philip Green, a near-billionaire with a superyacht, couldnt afford to pay his rent. Nor, it seems, can Peter Simon, a half-billionaire whose preferred luxury is expensive art. The founder and owner of Monsoon Accessorize would like his landlords to take rent cuts on 135 stores.From Simons point of view, theres no harm in having a go. Nobody doubts that fundamental changes have taken place in the retail sector, as the company puts it, and the tune seems to be a winner. Green got his restructuring of Arcadia over the line, albeit at the second attempt, so why shouldnt Simon expect similar leniency? Continue reading...

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