Lingerie and sex toy chain Ann Summers is in talks with the landlords of its 90 high street stores to renegotiate rents in the wake of the pandemic.
Jacqueline Gold, boss of the business said that although some landlords have been open to discussions, some have not, which may result in the company proposing a Creditors Voluntary Arrangement (CVA). Ms Gold went on to say that if a CVA is the way forward, those landlords which have engaged with them already will not be compromised.
Under the terms of a CVA, the company will be able to close its unprofitable stores, which will enevitably result in job losses.
This is another nail in the coffin for the high street.
We would be interested to see and hear what steps you thing the government should take to revive the high street!
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