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Shopping centres extend rental concessions till March as brands strive to recover sales

BCCL - Non Copyright

Synopsis

Fashion retailers were among the hardest hit last year as malls remained shut for months and then the stores saw low footfalls as consumers stayed away from crowded areas for fear of catching the deadly virus.

New Delhi: Malls and retailers are ironing out their rental issues post-December with most of the shopping centres extending rental concessions to the end of March as the business gained by brands in October and November have started to taper off in December and early January.Some malls have extended the rental reliefs for retailers from December to March-end for brands which haven't recovered 70-75% of sales and multiplexes that have been hit

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