Retailers struggling to pay their rents

Recent research has suggested that only 11 per-cent of retailers have paid their rent on time. Before the pandemic landlords received approximately 30 per-cent of their rent on time.

With the moratorium on commercial tenant evictions still in place it seems that many retailers are wanting to retain any working capital they can to support their businesses as the government support schemes are unwound. There are widespread regional variations with those tenants who are paying on time with tenants in London struggling the most. Only 10 per-cent of tenants in London had paid their rent on time whereas in Yorkshire and the Humber 29 per-cent of tenants had paid their rent on time.

For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or should you or your company be facing financial difficulties and you need to chat, please telephone Charlotte Hutchinson on 01377 257788 and she will make you an appointment with one of our insolvency professionals at our Driffield, Hull, Grimsby, Scunthorpe or York offices.  Our initial meetings are free and without obligation.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.

Because we are an independent insolvency practice, we keep our overheads low and have put systems in place to deal with simple liquidations at an affordable price of from £1,995 + VAT + Disbursements.  Our MVLs are from £995 + VAT + Disbursements.

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