Apple asks UK landlords to cut Apple Store rents in half

Apple has made a request to landlords in the United Kingdom to cut the amount of rent it pays by half and to offer a free rental period, a report claims, with Apple supposedly offering to extend its leases for those who take up its offer.

Regent Street Apple Store, London
Apple's physical retail outlets in the UK were shut for a number of months due to the COVID-19 pandemic, with all 32 stores in England only being back in service in the country from June 15. The impact of the coronavirus lockdown and social distancing measures has led to Apple attempting to regain some of its lost retail profits, which it is seemingly doing by reducing one of its main store costs.

Read more...