Retail landlords are braced for one of their most challenging winters in recent memory as more high street chains are expected to run into peril, and those that survive push for lower rents and more favourable terms.
HMV became the first high-profile casualty of Christmas as it fell into administration last week, and analysts anticipate more insolvencies and store closures as retailers tot up their festive financial figures in the coming weeks.
Ric Traynor, chairman of insolvency specialist Begbies Traynor, said he expected “a lot of retail fallout over the first quarter” as the shift to online shopping and the annual cash flow crunch experienced after Christmas collide with “very weak consumer” fundamentals.
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