Over the past three years Mosaic Brands has been reducing the amount of long lease rental terms for stores, with almost half set to expire by the end of this year. “The retail rental market in Australia is not paused because of the pandemic – it is fundamentally changed for the future,” managing director and CEO Scott Evans said. “Some, though not all landlords, accept that reality, so while exact locations and numbers are to be determined, the group anticipates potentially 300-500 store closures over the coming 12-24 months.” Despite a consistent online growth by the company and a solid start to the financial year, Evans said the group had missed peak operating periods. “There is no road map to navigate these circumstances, but our.
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