Adapting to Uncertain Times

  • Edinburgh Woolen Mill introduces pandemic clauses in new Bonmarché leases
  • Clauses allow for no upfront rent during lockdown
  • Rents may be paused or refunded if another pandemic occurs
  • Bonmarché sold to EWM after falling into administration

Edinburgh Woolen Mill (EWM) has introduced pandemic clauses into new leases for its subsidiary, Bonmarché, following the company’s acquisition last year. The clauses allow EWM to avoid paying upfront rent until the Covid-19 lockdown is lifted and non-essential retailers can reopen. This comes after the UK government extended the lockdown for at least three weeks. Additionally, landlords may pause or refund rents should another pandemic occur in the future. Bonmarché was previously sold to EWM’s Peacocks division after facing administration last October.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Edinburgh Woolen Mills introducing pandemic clauses in new Bonmarché leases and the potential impact of the coronavirus lockdown on rent payments. It also mentions the previous sale of Bonmarché to EWM. However, it could provide more context on the pandemic clauses and their specific terms.
Noise Level: 4
Noise Justification: The article provides relevant information about Edinburgh Woolen Mill introducing pandemic clauses in new leases and the potential impact on Bonmarché stores. However, it could benefit from more analysis of long-term trends or possibilities related to the retail industry and pandemic preparedness.
Financial Relevance: Yes
Financial Markets Impacted: Landlords and retail companies
Financial Rating Justification: The article discusses the introduction of pandemic clauses in leases by Edinburgh Woolen Mill, which impacts landlords and retail companies as it affects rent payments during lockdowns and potentially in future pandemics.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text. However, the article discusses the impact of the Covid-19 pandemic on Bonmarché and its lease agreements with landlords.

Reported publicly: www.retailsector.co.uk