×
413
Fashion Jobs
SHISEIDO
Bareminerals Account Manager - Debenhams Manchester City (37.5)
Permanent · Stretford
GAP
Assistant Visual Manager - Bluewater
Permanent · Kent
MICHAEL KORS (UK) LIMITED
Ecommerce Operations Manager, Emea
Permanent · London
SHISEIDO
Bareminerals Account Manager - Debenhams, Bury (37.5)
Permanent · BURY SAINT EDMUNDS
SHISEIDO
Bareminerals Business Manager - Debenhams, Liverpool (37.5)
Permanent · Liverpool
SHISEIDO
Bareminerals Account Manager - Debenhams, Ipswich (37.5)
Permanent · Ipswich
SHISEIDO
Shisiedo Group Fragrance Account Manager - John Lewis, Brent Cross (22.5)
Permanent · London
THE BETESH GROUP
Wix Designer & Content Writer
Internship · LONDON
LONDON ORGANIC PR
Marketing Coordinator
Internship · LONDON
SOEUR
Sales Associate
Permanent · LONDON
SOEUR
Store Manager
Permanent · LONDON
RICORRROBE
Fashion Studio Assistant
Internship · LONDON
OTIS JAXON
Photography Internship – Ecommerce Jewellery Company - London
Internship · LONDON
SHISEIDO
Bareminerals Beauty Ambassador - Boots, Sheffield (15)
Permanent · South Yorkshire
SHISEIDO
Bareminerals Opportunities - Lisburn Sprucefield
Permanent · Lisburn
SHISEIDO
Bareminerals Beauty Ambassador - Debenhams, Trafford (12.5)
Permanent · Stretford
SHISEIDO
Bareminerals Beauty Ambassador - Boots, Manchester (35)
Permanent · Stretford
LEVI'S
16 Hour Key Holder Braintree £9.30 p/h
Permanent · Braintree
MARSHALLS
Shift Engineering Manager
Permanent · Wakefield
MARSHALLS
Maintenance Technician
Permanent · Wakefield
MAJE
HR Coordinator UK m/f
Permanent · LONDON
MARSHALLS
Sierra Hardlines Supervisor
Permanent · Madison

Sports Direct boss calls for turnover-linked rent deals

Published
Nov 18, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Retail billionaire Mike Ashley, the founder of Sports Direct, has demanded new rent deals are tied to sales across his high street store empire that now includes House of Fraser and Jack Wills as well as Sports Direct itself and the Flannels chains. 


Sports Direct



Ashley has asked landlords to agree to ‘turnover rents', where up to 15% of the rent due is linked directly to physical store sales, the Sunday Times reported. 

The scheme, which allows retailers to share their risk and reward with landlords, are common in the US and are said to be standard practice for international giants such as Zara owner Inditex and H&M.

Some parts of Ashley's retail portfolio have been struggling, with department store group House of Fraser having major problems. The company now operates around 700 UK retail sites.

The shift to online shopping and rising costs have prompted retailers such as Select, Mothercare, New Look, Debenhams and Sir Philip Green's Arcadia Group to use company voluntary arrangements (CVAs) to close stores and slash rents. This has angered many of the chains that aren’t at breaking point, which are now seeking better deals. Next is known to have asked for better rent deals.

In a deeply troubled UK retail market, hit by weak consumer sentiment and reduced footfall, turnover rents could help tenants by transferring some of the risk of future falls in sales to landlords, who have enjoyed the security of long-term leases with rents that could be revised only upwards.

Copyright © 2020 FashionNetwork.com All rights reserved.