--Associated British Foods' Primark is seeking steep rent cuts from landlords as competitors turn to insolvency proceedings to renegotiate leases and cut costs, according to the Financial Times.

--In negotiations, Primark highlights U.K. fashion retailer Next receiving an average of 29% cut on rent, an unidentified landlord said, the FT reports.

--Primark is offering extended leases or investments in property for rent reductions, the FT says.

Full story: https://on.ft.com/2yiT0FV

Write to Barcelona editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

July 29, 2019 06:59 ET (10:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Associated British Foods (LSE:ABF)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Associated British Foods Charts.
Associated British Foods (LSE:ABF)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Associated British Foods Charts.