Sainsbury's moves to support concession tenants
Sainsbury's has said that it's working hard to support its suppliers and partners and while most of its focus is on food during the coronavirus lockdown in the UK, it's also pledging support for its concession partners that include fashion retailers.
Oasis, for instance has concessions in its stores and the company has increasingly been adding other retailers to its line-up as it has sought to make the most of vacant store space but also to make it stores more attractive one-stop-shop destinations.
Late last year, the supermarkets giant also said it was continuing its efforts to boost its fashion operations and was linking up with Fat Face on concessions.
The relationship between the chains reflects the deal between Tesco and Arcadia that saw the fashion retail giant open outlets in Tesco superstores.
Sainsbury’s said on Thursday that it would be taking action to support small suppliers with fast payment terms and would extend its support to tenants and concession partners.
“As a first step, the company is offering all tenants the opportunity to pay rent on a monthly basis as opposed to quarterly in advance. It is anticipated that 250 tenants and concession partners will benefit from the new arrangements,” it said.
Paul Mills-Hicks, Commercial Director at Sainsbury’s, said: “We want to support our suppliers and partners because it is vital that we all help each other during this challenging time. The businesses we work with are working flat out to supply us with product and going above and beyond to deliver direct to our stores. I am so proud to be working alongside them to feed the nation and we will do all we can to help.”
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