Store closures, jobs losses: Retail industry braces for another brutal week

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About 1700 staff employed by retail group Brand Collective will be stood down at the end of the week as the government scrambles to assemble a wage-support package and the retail body predicts more store closures.

The three-pronged burden facing retailers – keeping staff safe, plummeting sales and brand damage for those stores that do remain open – meant it was becoming increasingly untenable to keep bricks-and-mortar stores operating, Mr Zimmerman said.

Mr Zimmerman said a lack of force majeure clauses that include pandemics meant business owners are still legally responsible for covering lease payments and, while the industry supports the federal government's work around wage support, it awaits further guidance on rents.

"There is a high degree of uncertainty about our legal obligations during this period and we are hoping to work constructively with landlords to manage this – shopping centres can’t survive if retailers don’t survive," Mr Matthews said. "Clear government guidance on how landlords should approach rent holidays during this period is required.

 

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