Hermes, one of the UK's largest landlords, is offering existing tenants the option of paying rent monthly rather than quarterly. How nice of them, there is of course a surcharge of between 0.5% and 1% to ease Hermes' cash flow. Will this be enough to stave off the demise of retail in the UK? I think not, as I
wrote on Friday - "Many retail companies are just holding position and hoping for a good Christmas, when that does not come true there will be big losses, company failures and huge job losses. I expect to see many high streets and shopping malls with over 15% empty units by the end of 2009 Q2."
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