The Liberation Group have announced a series of measures designed to help its tenants in the UK and Channel Islands cope with the enforced closure of pubs due to Covid-19 restrictions.
The support package includes the Group not collecting any rent for the duration of the closure to the maximum term of six months, cancelling 50% of the headline rent and a further bespoke package available on an individual based which could include “long term deferral of the outstanding rent subject to conditions.”
Christine Oxford, MD, Tenanted Pubs, The Liberation Group said: “Our industry has been heavily impacted by this enforced closure. Our top priority is the well-being of our tenants and subsequently their team members and customers. I’m confident that the support we’re offering today will help protect them during this challenging time. In terms of our tenanted business and our relationship with them, our absolute priority is to ensure our tenants not only survive this period of closure but that they come through this in a strong position to continue to trade with us in the future. With this in mind, we have agreed a significant package of support with the Liberation Group board.”
