Warehouse gets out of Grafton St
Published 04/06/2015 | 02:30
Clothing retailer Warehouse is pulling out of the prestigous Grafton Street area.
The company is reported to be preparing to assign its lease at its high profile shop close to the Gaeity Theatre just yards from Grafton Street itself.
Warehouse is known to have been in financial difficulty for sometime, and has been grappling with high rents.
US investment firm LoneStar, which recently bought the Gaeity Theatre as part of the Project Redwood portfolio is reported to have agreed significant rent reductions on the property, to the point that Warehouse will likely be able to pass on its lease to another trader at little more than half the original rent