MASSIVE 50 PER CENT INCREASES MAY FORCE RETAILERS OUT OF BUSINESS
SHOPS in Bray may be forced to close their doors in the new year as retailers report massive rent increases, in some cases soaring by 80 per cent.
One man running a small shop in the town said that his rent last year was € 10,000. Owners have told him, through their agents, that they will seek payments amounting to €18,000 in the coming year.
‘80 per cent is effectively putting you out of business,’ said the retailer, horrified at the crippling increase. ‘It would make you wonder are they trying to do just that.’
He added that trade is quite slow now. ‘Rent should be going down not up.’
President of Bray Chamber, Eugene Finnegan, said that the chamber had received complaints about large rent hikes and was investigating.
‘I have received reports of increases of around 40 per cent or 50 per cent. We will see how much influence we will be able to have.’