Niche shops ask landlords for turnover-based rentals
Unlisted retailers form a group to negotiate with the property owners
A group of mid-sized independent retailers have asked landlords to offer them turnover-based rental to help them survive the year as they expect depressed sales and losses for months to come.
Unlisted retailers including Exclusive Books, Cape Union Mart, Contempo clothing, Volpes, Bargain Books, Carrol Boyes, Toys R Us, Rand Outfitters and Biggie Best formed a group called the Mid-Sized Independent Retailers to negotiate with landlords, says their consultant Jonathan Kingsley-Hall. ..