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1.Market Observations, 8.Was Sticky

14 June 2017 (AFR) – SumoSalad ‘canary in the coalmine’ for shopping centre landlords

(14 June 2017, AFR, p3, by Matthew Cranston)

‘Food retailer Sumo Salad’s decision to withdraw up to 14 stores from Westfield shopping centres after failing to renegotiate leases is the “canary in the coal mine”, say tenant advocates who monitor Australia’s retailing scene. SumoSalad co-founder Luke Baylis on Tuesday told The Australian Financial Review the company had placed two leasing entities into voluntary administration and that such a move would have an impact on between 12 and 14 stores currently leasing space in Westfield’s shopping centre food courts.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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