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Yet more administrations on the high street

9 December 2011

Experts are predicting that there could be a record number of retail insolvencies this Christmas given the difficult trading conditions. The latest retailer to succumb is Barratts.

Without doubt, there needs to be some give and take. Landlords may want to offer extra concessions to try and keep their retail tenants in business, especially if the premises are likely to be left vacant as landlords may become liable for ongoing costs and, in particular, business rates (this issue being mentioned in previous opinions).

Effective communication is going to be the key to ensure that the high street gets through this difficult time and the retail tenants needs to be honest with landlords if they want to strike a deal in order to survive.

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