Main Street Complex plc - Closure of Debenhams Outlet

On 2 June 2021, Main Street Complex plc (“MSC”) announced that following the closure of the Debenhams franchise operations in Malta by United Group, MSC received notice of termination of the existing concession in relation to the Debenhams outlet operated by United Group which is also the largest store within Main Street Complex.

MSC explained that discussions are already underway with United Group with a view of determining the terms, timeline and process of the termination and ensuing vacating of the store. In parallel, MSC has already commenced the process for identifying a suitable alternative tenant and further updates to the market will be provided as and when appropriate.

MSC concluded by saying that the termination of the agreement with United Group is not expected to have any impact on its financial performance in 2021, principally as a result of the terms of the termination provisions contained in the concession agreement between MSC and United Group.