Millen’s Irish outlets under pressure to get rent cuts

The directors of the loss-making Irish arm of fashion retailer Karen Millen must produce a viable business plan to ensure continued support for the business from its parent firm.

According to new accounts lodged by Karen Millen Ltd to the Companies Office, a viable business plan for the fashion retailer is dependent on the business securing rent reductions on its Irish outlets.

A note attached to the firm’s 2012 accounts states that the viable business plan “is to some extent subject to a successful outcome of negotiations with landlords of the company to reduce the rent levels payable on the company’s property leases”.