CAPA has successfully terminated all 14 UK leases held by Crabtree & Evelyn, the luxury bath products retailer, after agreeing landlord surrenders.
Consensual negotiations were held between CAPA’s Property team and the likes of Land Securities, Aviva, Grosvenor and British Land over three months.
The average surrender penalty payment was lower than 12 months’ rent and included arrears, dilapidations and landlord’s professional/legal costs. Throughout 2019, Crabtree & Evelyn has been closing stores in the UK as it moves online.
CAPA has also secured consensual exits on leases for many other household-name retailers, including Karen Millen and Go Mobile.