Covid-19 resurgence: Retailers seek rental concessions as businesses get affected again

By Asmita Dey9 days ago

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As local authorities in many parts of the country are imposing fresh restrictions to tackle a renewed surge in coronavirus infections, upsetting business recovery, retailers are back to the negotiating table with mall-owners and high-street landlords, seeking an extension of concession on rental payments.

Retailers, already seeing a significant dip in business, are hoping landlords to be discerning and accommodate their requests. Representative Image

As local authorities in many parts of the country are imposing fresh restrictions to tackle a renewed surge in coronavirus infections, upsetting business recovery, retailers are back to the negotiating table with mall-owners and high-street landlords, seeking an extension of concession on rental payments.

Malls, many of which had supported brands with full rental waivers during the lockdown period last year and reasonable discounts on rents after unlock are, however, somewhat reluctant to offer further relaxations. We do not have any capacity left in us to offer any waiver from April. Earlier, lockdown was very tough but our payouts were fixed. It created a big dent in our pockets, says Gurvineet Singh, CEO at Mumbai-based Viviana Mall. The company that operates in Thane was allowed resumption of services only in September.

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