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Retail body blames rent costs for job losses

Retail Excellence Ireland has hit out at "Celtic Tiger" rents
Retail Excellence Ireland has hit out at "Celtic Tiger" rents

The representative body for the retail sector has said the refusal of landlords to reduce rent costs is leading to significant job losses.

A survey by Retail Excellence Ireland of more than 1,418 stores around the country found that reductions of between 3%-4% were achieved over the past three years, but retail sales had decreased by 30%.

REI Chief Executive David Fitzsimons said the Government must act to address "Celtic Tiger era rent demands".