UK hospitality calls for deal with landlords to forgo rent built up due to Covid restrictions

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Sumary of UK hospitality calls for deal with landlords to forgo rent built up due to Covid restrictions:

  • Speaking at a Treasury select committee hearing, trade body bosses in travel, hospitality and retail said the easing of restrictions was not enough to avoid business failures and job losses in debt-laden sectors..
  • Retail and hospitality businesses alone have built up a combined £5bn of rent debt, with a moratorium on demands for commercial rent arrears due to expire on 1 July..
  • The boss of UK Hospitality, Kate Nicholls, warned that a third of the trade body members – who have 90,000 venues between them – were expecting back-dated rent demands the moment the moratorium ends, even though many still are not able to trade….

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