Solomon Lew's Premier Investments has warned it is prepared to shut up to 350 of its 1040 Australasian stores if landlords do not play ball and agree to new, lower rent deals that reflect the rapid shift to online shopping.
Premier Investments, which runs retail business including Just Jeans, Smiggle, Peter Alexander, Dotti, Jay Jays and Portmans, will also begin a major restructuring of its Smiggle operations in Britain, where it will close 55 of the brand's 131 bricks-and-mortar stores.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
