Home > Latest News > Myer Hit With Lawsuit Over Unpaid Rent On Bourke St Flagship

Myer Hit With Lawsuit Over Unpaid Rent On Bourke St Flagship

Vicinity Centres has started legal action against Myer, over $4.2m in unpaid rent at its Melbourne flagship store on Bourke Street.

According to the suit, Myer owes rent from the start of May to the end of October, some of which fell under the recent lockdown. Vicinity claims it sent two demands last month for the retail giant to pay up.

Vicinity revealed the lawsuit at today’s AGM, pointing out that the Melbourne lockdown only started up again in July.

“During the second half of fiscal 2021, leasing activity highlighted the underlying resilience of the retail sector and this continued into the first quarter of fiscal 2022, especially in Victoria despite the lockdown period,” Vicinity chief executive Grant Kelley said.

“Conversely, having been through its longest lockdown since the start of the pandemic, retailer confidence and leasing activity across NSW was negatively impacted during the quarter.”

You may also like
Things Are Looking Up For Retailers Despite CreditWatch Doom & Gloom
Myer Still Looking For CEO As Shares Climb Following Trading Update
Bunnings Becomes Australia’s 2nd Most Trusted Brand
Retailers Facing Rising Theft Issues After Facial Recognition Cameras Removed
Solomon Lew Raises Myer Stake Despite Its Poor Recent Profit