Apple has formally requested that it be lower the rental price of UK retail stores due to the Coronavirus crisis. During the global pandemic (which is still going on, let's not forget it), landlords have lowered the price of rent to some companies to encourage business. Apple has requested the same deal.
Since the mandatory confinement of citizens and the closure of businesses began in March, many of them have gone bankrupt and many others are in serious difficulties. Although as we have seen in Apple, things haven't gone too bad. However he wants to be treat like other companies.
In the UK, some business owners, they have lowered the rental price by up to 50% to its tenants in a gesture to stimulate business and the local economy. Apple wants to adhere to these initiatives, in exchange it offers to renew by extending the years of the rental contract.
Likewise, it is requested by the American company that the owners can also offer a “free rental period ". The decision should not be accepted immediately, since as the report revealed by The Sunday Times suggests, Apple still has many years of contract left in one of its retail stores.
Apple has a total of 38 retail stores in the UK And all of them are now reopened, maintaining hygienic-sanitary security measures, to avoid infections by Coronavirus or at least minimize them.
In the report It is said that explicitly:
The tech giant has told owners of part of its 38-store property in the UK that it wants rents cut by up to 50% and a rental-free period. In return, he has offered to extend leases for a few years
Apple is trying to bring its rents in line with other retailers, many of which are benefiting from discounted deals while owners struggle to keep their shopping centers busy.
