// Savile Row tailors call for rent cuts amid Covid-19 pandemic
// The call comes after concerns were raised over their economic difficulties
Savile Row tailors have reportedly called on their landlords to approve rent cuts, as the Covid-19 pandemic takes its toll on West End traders.
A number of the world famous tailors are seeking to slash rents or introduce greater flexibility on payments as concerns grow over their economic difficulties, Property Week reported.
Savile Row Bespoke Association chairman and Dege & Skinner managing director William Skinner said Savile Row’s bespoke retailers feel that the rents are “very high”.
Meanwhile, Savile Row’s main landlord, The Pollen Estate, has already been looking at a mixture of rent-free periods, rent deferments and monthly rents for when businesses reopen.
The Pollen Estate property director Julian Stocks said guided by supply and demand as he looks at rents in the future.
He added that if there is no demand, then the company can’t charge high rents.
The landlords said their main goal was to ensure all of its stakeholders, including galleries, tailors, restaurants, cafés and some office occupiers that are struggling, make it through the coronavirus crisis.