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Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdowns

›Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdowns Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdowns SECTIONS Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdownsBy Share Synopsis Amid last year’s nationwide lockdown and this year’s local lockdowns, retailers and restaurants have taken a massive hit, facing closure of outlets, huge losses and retrenchments. PTI Top retailers and restaurant chains such as Reliance Retail, Madura Fashion & Lifestyle, Domino’s, Plum by Bent Chair, Mamagoto, Farzi Cafe, Lee, Wrangler and Cafe Warehouse among others, are insisting on introducing clauses in all new leases that stipulate that they will not pay rent, or pay only in proportion to their actual business, in the event of government mandated closures of stores and malls.

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Restaurants, retailers want performance-linked rental system, malls are not so happy

Restaurants, retailers want performance-linked rental system, malls are not so happy The current wave of infections has come at a time fashion and lifestyle brands – one of the most impacted retail segments – were regaining 80-90% pre-pandemic level sales in March. Since then it has been a steep downhill for them. Synopsis Malls are not so sympathetic, however. A top executive of a prominent mall group has called the meeting and communications from retailers and restaurants a “knee-jerk reaction.” Many other malls including DLF Malls in Delhi NCR and Infiniti Malls in Mumbai are saying that they are yet to take a call on the proposal.

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Survival, growth, sustainability and digital – the old new buzzwords for Indian Retail

The ET India Inc Boardroom panel discussed the learnings that business leaders can take from the pandemic. All panellists said going digital is the way forward and working solutions will become hybrid.

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Aditya Birla Fashion Q3 results: Net profit at Rs 58 cr, revenue falls 20% to Rs 2,076 cr

Story Aditya Birla Fashion Q3 results: Net profit at Rs 58 cr, revenue falls 20% to Rs 2,076 cr The October-December quarter saw a significant acceleration of business recovery along sequential quarters as consumers started coming back to stores, the company said. BusinessToday.In | February 8, 2021 | Updated 19:09 IST The Aditya Birla Group company s revenue declined 20 per cent year-on-year (YoY) to Rs 2,076 crore during December quarter. Aditya Birla Fashion and Retail Ltd on Monday posted a consolidated net profit of Rs 58 crore for October-December quarter of the ongoing financial year on business recovery and cost-control measures. The Aditya Birla Group company had posted a net loss of Rs 38 crore in the year-ago quarter, while net loss in the preceding July-September quarter stood at Rs 188 crore.

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Buy Aditya Birla Fashion And Retail: Target Of Rs 191: Sharekhan

Buy Aditya Birla Fashion And Retail: Target Of Rs 191: Sharekhan
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