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Gloucestershire Business News

Mike Ashley makes call for landlords to overhaul retail rents

Retail empire owner Mike Ashley has made a plea to landlords to review rent deals so that they are linked to sales, according to a report.

This week's edition of The Sunday Times reported that Sports Direct owner has called on

landlords to agree turnover-based rents, where up to 15 per cent of the total is linked to store sales.

It comes at a time when more and more retailers are struggling to pay existing rents on High Street premises.

Mr Ashley, whose Sports Direct empire also owns House of Fraser, Evans Cycles has around 700 stores across the UK.

It comes in the same week as card shop Clintons admitted it was seeking a similar deal for around 200 of its 332 stores as part of a CVA that is awaiting approval.

Sports Direct have stores in Cheltenham, Gloucester and Stroud, while House of Fraser operate out of Cavendish House, the biggest individual retail space in the county.

The Cheltenham High Street Sports Direct store closed last year.

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