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Gloucestershire Business News

WHSmith to ask for new terms from landlords

Stationery retailer and newsagent, WHSmith, is considering asking landlords to allow it to pay rent in arrears in future.

The retailer, which has stores across the county, has around 300 leases coming up for renewal this year, as reported by Retail Gazette.

It's thought WHSmith will ask landlords to switch from the industry standard of receiving payments in advance to receiving rents in arrears, to help with cashflow.

Last month it was revealed that the company's railway station and airport sites were helping to keep it afloat, with revenues up 19 per cent in its travel arm  and down five per cent on the high street.

WHSmith has already successfully negotiated lower rents on a number of its stores - achieving an average cut of 35 per cent on leases that came up for renewal last year. It is also already paying rent in arrears in a handful of its high street stores.

WHSmith is the latest in a long line of retailers looking to ease the pressure by renegotiating with landlords.

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