Retail Ireland urges landlords to cut rental costs

RETAIL Ireland, the IBEC group representing the sector, said over half of participants in a new survey believe the climate for the Irish retail sector continues to remain weak and could get worse.

It says jobs are under threat and argues that landlords who have continued to reap unsustainably high rents have to cut rental costs without delay as the sector struggles to survive.

Covering the first quarter of 2010, the findings highlight the responses of 131 retailers, with 54% rating the current business climate as poor or very poor.