In statements about its bid to secure a new agreement with property companies over the cost of renting its retail spaces, footwear group Clarks placed much of the blame on covid-19.

Several members of its leadership team mentioned covid-19 in comments at the time of an offer of new investment from Hong Kong-based private equity firm LionRock. LionRock’s proposed investment of £100 million is dependent on Clarks persuading landlords to help it manage existing debt and move its “rental cost base” to a new model.

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