Marks and Spencer have lost a break lease case after The Court of Appeal overruled the High Court decision to allow the retailer to recover around £1.1m in rent and other charges.
The overruling marks a victory for the retailers‘ landlord BNP Paribas Securities Services.
An M&S spokesperson said it was “considering our options.”
Breaking a lease early has proved a complicated issue for both parties with this particular case dragging on for over two years.
“The pendulum has swung back in favour of landlords,” commented Chris Alexander, associate solicitor at SA Law. “Tenants should not now expect to obtain a rebate, unless the case proceeds to the Supreme Court and is overturned again!”