Edinburgh Woollen Mill adds pandemic clauses to new Bonmarché leases
Edinburgh Woollen Mill is inserting pandemic clauses into new leases it is signing with landlords on Bonmarche stores after it bought the retailer out of administration.
The new clauses mean the Philip Day-owned group, which also owns Peacocks, Jaeger and Jane Norman, can agree on new Bonmarché store leases without having to pay any rents upfront until the coronavirus lockdown is lifted and non-essential retail stores can reopen.
The clauses also mean, should another pandemic hit in future, rents will be paused and, in some cases, refunded by landlords until any future lockdowns are lifted.
Retail Week understands the pandemic clauses are only being added to new lease agreements with landlords for Bonmarché stores and will not be rolled out across EWM’s wider stable of brands.
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