After taking over the Real network, Auchan is pushing retail center owners to lower their rents. Auchan claims this is a necessary step before it can begin rebranding the Real stores. Francois Colombie, president of the Auchan Polska supervisory board, said this week that agreements have already been reached with 14 landlords who have agreed to lower their rent levels for the French retailer. “I’m aware that some of the landlords are strongly indebted and under the supervision of financial institutions. In order to maintain the value of their assets, the funds need to refinance their debts, and this has substantially prolonged the talks [on rents],” said Colombie.
Auchan originally expected to complete the rebranding process within two years. However, since the landlord negotiations are taking longer than expected, the rebranding process will likely require more time.
