Rent moratoriums extended “in the nick of time” says BRC

Responding to the announcement by Stephen Barclay MP, the Chief Secretary to the Treasury, that the moratoriums on aggressive debt enforcement will be extended for a further nine months, Helen Dickinson, chief executive of the British Retail Consortium (BRC), comments: “This is a very welcome announcement, addressing an issue of vital importance in the nick of time. We will be looking closely at the details, but welcome the continued support provided by Government to businesses.

“Just as retailers feared a wave of legal action by landlords, the Government has stepped in to offer both landlords and tenants more time to negotiate.

“The last 15 months have seen extended periods of forced closure for retailers, preventing many from making the turnover needed to cover rents. Retailers need time to trade their way out of debt – this announcement does exactly that. We’re also pleased to see the Government adopt our proposal for binding arbitration where agreements between parties cannot be reached.”

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