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Retailers are reeling from the latest data announced by the Office for National Statistics! The data indicates a 0.7% growth in value of UK sales in October from the previous month as well as a 5.4% growth from the previous year.
The British Retail Consortium was quick to accuse the ONS of producing sales figures that “paint an overly rosy picture” of shopping in the UK. In truth, sales will have been generated by the early and heavy discounting by retailers. However, everyone knows that the practice of offering discounts cannot carry on long term without a negative impact on the retailers.
The BRC is keen to ensure that this “rosy picture” does not distract the Government from looking at ways to help struggling retailers. Planned increases in fuel duty, rises in business rates and unemployment have not gone away. Now is not the time for creative festive cheer…..
One of the requirements for tenants to contract out of the security of tenure regime contained in the Landlord and Tenant Act 1954 is that they make a simple or statutory declaration before entering into the lease.
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Landlords should reconsider summary judgment if a Part 26A restructuring plan is pending.
A landlord’s claim for summary judgment to recover rent and service charge arrears accrued since the start of the pandemic against a non-essential retailer succeeded. Like London buses, a second such case has followed hot on its heels.
Whilst this decision may not be surprising, it will undoubtedly send a chill down the spine of retailers in a similar position to The Fragrance Shop.
Partner and Head of Real Estate
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