Coles Agree To Request On Amending Lease Arrangements

Coles Agree to Request on Amending Lease Arrangements



Coles has voluntarily agreed to an undertaking with the ACCC to change the way lease agreements with shopping centre landlords are managed.

The voluntary undertaking means that Coles will not seek to enforce any restrictive provisions contained in existing lease deals after a store has been open for five years, and new lease agreements will not contain any such provisions.

Coles Managing Director Ian McLeod said that Coles had stated at last year's ACCC Grocery Inquiry that it would be open to a review of lease arrangements.

"We think these changes are a common sense approach to take and is consistent with our position at the Grocery Inquiry last year," Mr McLeod said.

"We are pleased that a phased approach will be adopted for existing lease
arrangements, which will allow a managed transition to the new arrangements under the voluntary undertaking."




Further information, Jim Cooper Coles Media Relations Ph (03) 9829 4354



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