Debate Magazine

Yeah! Go Retailers!

Posted on the 03 July 2020 by Markwadsworth @Mark_Wadsworth

From The Guardian:
Landsec, the property group behind the Trinity Leeds shopping center and Bluewater in Kent, said struggling retailers paid less than a third of the rent due last month.
Retailers paid only £9m of the £31m rent due on stores on 24 June, which equates to 29% of the total. This time last year its retail tenants paid 92% of the bill.

I'm sure that the £9 million they actually received is enough to cover their actual running costs (repairs, maintenance, security etc), so what's the problem? The land and buildings are still there, unlike tenant businesses who won't be if landlords hound them for every last penny.

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