SumoSalad’s groundbreaking use of the insolvency laws to force Westfield shopping centres to negotiate lower rents for its fast food franchisees has proved successful.
The two parties are on the brink of agreeing a mutually favourable commercial outcome, with the final details to be sorted out by early next week. The deal will be closely watched by the thousands of retailers operating in large shopping centres because it will show that it is possible to tip the balance of power from landlords back to tenants.
SumoSalad’s co-founder Luke Baylis said on Tuesday he was negotiating better rental terms at Westfield centres which would put his franchise owners on sounder financial footings.
He said SumoSalad franchisees had suffered…
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