More bad news to come I suspect. GLH.
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I still contend strategic withdrawal from Aussie is very likely
Mall owners don’t operate on standard ADLS leases so no generic escape/access clause as per other commercial property operators. No doubt the malls will offer concessions but you would imagine it’s still a huge hit to HLG bottom line, what’s the monthly staff/lease liabilities at the moment ?
I agree with beagle, I don’t see why they would kill the golden goose because it isn’t expected to lay an egg for a few months.
Thanks for that info boysy have just googled that.
I would think that Hallensteins and Glassons would be regarded as anchor tenants in a lot of malls and that owners would be keen to keep them. If concessions are necessary I'd expect to see some mutually beneficial solutions.
Sorry, but I would have to completely disagree... I would be very surprised if Hallensteins and Glassons were considered anchor tenants in any mall/complex, so they would not be able to throw their weight around like a typical Farmers or The Warehouse of JB Hifi would... however there is likely to be 'somewhat' of a solution to help... whether it is mutually beneficial (aka both sides benefit the same) I am not too sure on either... I would think Hallensteins and Glassons would be very lucky if it was mutually beneficial.
Dito I would not call HGL an anchor tenant at all they are no supermarket or farmers or Kmart their floor area is modest in most malls compared to other retailers afterall. This could be different throughout the country but not the case in any Auckland malls .....
They got a few million in the bank but that won’t last long
Be a new experience for them talking to banks for a loan to tide them over