THE COVID-19 PANDEMIC HAS OBVIOUSLY HAD A SIGNIFICANT IMPACT ON THE RETAIL SECTOR
Many retailers were forced to close during lockdown and have been unable to keep up with their rental payments, even since lockdown eased, footfall in retailers around the UK has been significantly lower as many customers continue to self-isolate and avoid potentially busy places.
On the flipside, landlords around the globe have struggled to receive payments from tenants and the implementation of the Coronavirus Act 2020 (the CA 2020), has had a significant negative impact too and has meant the loss of a degree of protection as they are unable to rely on contractual rights to forfeit commercial leases by peaceable entry, or by issuing court proceedings.
This article was also published in The Retailer, our quarterly online magazine providing thought-leading insights from BRC experts and Associate Members.
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