Retailer in talks
Schuh plunges to loss as landlords urged to reduce rents
Stores have seen a downturn in activity
Footwear retailer Schuh plunged to a loss as it continues to negotiate lower rents and presses for action on rates.
The Scotland-based company has already embarked on a big cost-cutting programme and will decide soon on whether to wind up its operations in Germany.
Struggling stores contributed to a loss of £6.1 million from a pre-tax profit in 2018 of £13.1m.
Turnover the year fell from £308.5m to £288.4m despite an increase in online sales “masking a considerable drop in store sales.”