Shoe Retailer in Talks with Landlords for Potential Rent Cuts

  • Dune is considering a CVA due to potential rent cuts
  • KPMG has been drafted for strategic review
  • Talks with landlords revolve around turnover-based rent model
  • Daniel Rubin speaks on the tough trading environment

Dune, the footwear retailer founded by Daniel Rubin in 1992 and employing around 1,200 people across its 42 stores, is reportedly discussing rent cuts with landlords. The company has engaged KPMG to conduct a strategic review of its business amidst pandemic-induced lockdowns that have closed most of its stores. Rubin commented on the challenging trading environment and the need for further negotiations with landlords to secure the brand’s future. He added that KPMG will assist in managing the business through the ongoing crisis.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Dune’s situation and its discussions with landlords regarding potential rent cuts and the involvement of KPMG in reviewing options for their property portfolio. The quotes from Daniel Rubin are relevant and provide insight into the company’s current challenges.
Noise Level: 3
Noise Justification: The article provides relevant information about Dune’s potential rent cuts and its efforts to navigate the pandemic’s impact on their business. However, it lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Dune’s landlords and potential CVA impacting retail real estate market
Financial Rating Justification: The article discusses rent negotiations between Dune, a footwear retailer, and its landlords, which could lead to a Company Voluntary Arrangement (CVA), affecting the retail real estate market and potentially impacting other high street retailers facing similar challenges during the pandemic.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk