Skip navigation

Gloucestershire Business News

River Island asks landlords to slash rents

Fashion retailer River Island is negotiating with landlords over cuts to rents of up to 40 per cent.

The retailer, which has stores in Gloucester and Cheltenham, is proposing to reduce rents across the majority of its 270-store portfolio, as reported by Retail Gazette.

It's thought River Island is set to negotiate turnover-only rent deals of up to 12 per cent in its stores in marginal locations.

But it looks like River Island's days in Cheltenham could be numbered. Last week it was reported that Metro Bank has submitted plans  to redevelop the River Island shop at the font of Regent Arcade.

According to documents filed to Cheltenham Borough Council, the bank "intends to secure a 25-year lease, which represents a significant investment in Cheltenham town centre."

Owner of the Cheltenham shopping centre, Canada Life Investments Ltd, has exchanged contracts with Metro Bank on the 13,000 sq ft High Street facing unit which is currently let to River Island.

Related Articles

Warning: Part of Chetlenham's inner ring road will be closed for resurfacing work Image

Warning: Part of Chetlenham's inner ring road will be closed for resurfacing work

One of the main traffic routes through the town will be closed overnight for the whole of next week.

China trade trip reveals Scottish whisky business’s Gloucestershire headquarters Image

China trade trip reveals Scottish whisky business’s Gloucestershire headquarters

Fans of the water of life best sourced from the land north of our nation’s borders might be surprised to know than a business at the heart of the whisky trade is here in Gloucestershire.

Woman suffers life-threatening injuries in incident that caused A38 to be closed for 10 hours Image

Woman suffers life-threatening injuries in incident that caused A38 to be closed for 10 hours

A woman was taken to Southmead Hospital in Bristol with serious injuries after an overnight single vehicle collision on the A38 in Gloucestershire.

Former Prime Minister David Cameron leads Cheltenham Literature Festival line-up Image

Former Prime Minister David Cameron leads Cheltenham Literature Festival line-up

The former occupant of 10 Downing Street makes a rare public appearance at the 70th anniversary edition of the world's oldest Literature Festival.

Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.