Debt gives managerial instability and loss of value. Questions are swirling about the strategy of property owners, who historically focused only on retail and destination shopping centres.
For retailers, the latest agenda is busy. They have to shoulder operating losses of 2020 whilst paying public loans and finding innovation to earn future Capex. Between necessary spending cuts and efficiency gains, pressure on rents and charges is placing strategies under the spotlight. For some of them, dependence on malls is emerging.
“Before Covid-19, retailers and brands had to be very visible in prime locations like Westfield London or Hoog Catharijne in Utrecht. It was a question of critical image, even if you didn’t earn much money,” said Mr. de Courcel, C.E.O. of Retail Int. “Today, retailers are fighting for survival.
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