SA’s mall owners slash rent

LARGE South African landlords — including owners of the biggest malls in the country — have sweetened their rent offers to tenants who cannot open during the national lockdown.

But no agreements have been reached with some of the biggest retailers, including The Foschini Group, Truworths, Mr Price Group, Woolworths and Pepkor. Since the start of the lockdown such chains have stopped paying rent — after taking legal advice. The include Dis-Chem, which is still trading, which is only paying a portion of its oblibations. And large South African firms are also not paying full rent, and mall owners are calling on government to intervene. — Business Insider