Here’s some sigh of relief for struggling UK retailers unable to pay rent!
The moratorium on the UK retailers, who are feeling threatened of being evicted for their inability to pay rents, has now been extended till March 2021.
The Government has said that the extension will give ample time to both landlords and tenants to come up with an agreement over the unpaid rent issue.
While welcoming the Government’s decision to extend the moratorium till March, the British Retail Consortium (BRC) has said that the move has come at the right time.
It is important to state here that the ban was initially due to expire by December end this year. The extension has now given some breathing space to the retailers to trade their way out of rent arrears.
With most of the stores shut in the country in November, the retailers are now banking on December sales – including the ongoing Christmas rush – to recover the losses.
Those retailers who are struggling to pay rent can now be transparent about what they can actually pay. However, the Government has made it clear that those retailers who could afford to pay rent, but refused must pay all their debts now.
We will keep you updated here for all the latest developments!
