Bira calls for extra support for retail tenants to avoid further business failures

The trade body is backing the British Retail Consortium’s (BRC) proposals for a Property Bounceback Grant, after exclusive research revealed independent retailers were concerned about paying their rent while trade struggled to return to pre-lockdown levels.

The BRC’s proposals would see a government grant scheme established to bridge the gap between what tenants can pay and what landlords can forego, following negotiations based on the government Code of Practice.

The grant would cover rent and service charges for properties in the retail, hospitality and leisure sectors that have been required to close by the government. A grant amount will be awarded where tenants and landlords have come to a mutual agreement on their rent arrangements.

The BRC says that a similar scheme has been adopted in Denmark to help both tenants and landlords through recovery.

Andrew Goodacre, Bira chief executive, said: “Many retailers need more support with rental payments if we are to avoid even more job losses and potential business failures. The research shows that independent retailers have real concerns about future rental payments and the attitude of landlords.

“It is clear that retailers need ongoing support as they continue adjust their business to current trading conditions, which as we all know are not easy. We have seen some new proposals from the BRC regarding government support for rental payments and Bira supports this initiative. We have been raising concerns about rental payments for some time and positive action is needed.”