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Scentre Group targets Premier Retail for next wave of shutdowns

Scentre Group is seeking to lock out another swathe of retailers in its continued campaign to receive full rent payments.

According to a report in The Australian, Premier Retail-owned Just Jeans, Portmans, Peter Alexander and Smiggle have been issued breach notices which could see the sites shut down.

Premier Investments’ chairman Solomon Lew may also seek an injunction to halt the process, according to the report.

Inside Retail reached out to both Premier Investments and Scentre Group for confirmation and clarification, but hadn’t heard back from either in time for publication, though Scentre Group has previously said it doesn’t comment on individual commercial arrangements. 

The move comes a week after the Westfield-operator shuttered over 150 stores nationwide, including Strandbags and Mosaic Brands’ roster of retailers.

On Tuesday the property business unveiled a $3.6 billion loss for the six months to June, and said that it will not budge on keeping its rental agreements structured around fixed rent costs and annual increases. 

“The structure of our leases with our retail partners has not changed and remains based on the mutual agreement to pay a fixed rent,” Scentre Group chief executive Peter Allen said.

When it came to Mosaic Brands and the retailers Westfield closed down, Allen said it was unfortunate that it had come to that, but that he hoped it could be resolved.

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