Tuesday, January 19, 2021
Archived Post

Apple asks for rent reductions for its UK retail stores

According to The Sunday Times, Apple is pushing for huge rent reductions across its UK retail stores “despite its sales soaring to new heights during the lockdown.”

The tech giant has told landlords of a portion of its 38-store estate in the UK that it wants rents slashed by up to 50% and a rent-free period, the article adds. In return, it has offered to extend leases by a few years.

However, as AppleInsider notes, the request has caused some friction with land owners, however, as Apple’s latest quarterly results revealed an 11-percent revenue jump to US$59.7 billion. In July, filings in the United Kingdom revealed Apple earned $1.8 billion in revenue in annual sales, but the company only paid $8 million in tax.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the news editor of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.