March Quarter Rents Action Alert

A RAPIDLY DECLINING OUTLOOK

More than half a million UK companies were in financial distress before the coronavirus crisis began.

Distressed companies increased 3% to 506,946 in the first quarter of this year, according to figures from Begbies Taylor. The property sector is most at risk of insolvency, with a 15% year-on-year increase. Sports and health clubs, hotels and accommodation, and food and beverages, are all up by around 7%.

It expects the number to peak in Q3, as the full impact of the pandemic is felt.

CAN I PROTECT MY COMMERCIAL PROPERTY RENTAL INCOME?

CRAR

Q: Are we still able to enforce against non-payment of due quarterly rent?

A: Yes, the ability to instruct Clearway under CRAR presently remains available.

Q: Can I identify my tenants most at risk?

A: Yes. With each CRAR instruction against a limited company we offer, on request, a FREE Business Credit Risk Rating Report.

Forfeiture

Q: Can I instruct Clearway to effect Forfeiture of Lease?

A: No, the government has ordered a moratorium on commercial landlord sanctions for at least three months, meaning tenants who miss rent payments because of coronavirus can keep their leases.

There is something of a maze out there at the moment, through which we need to plot a careful course. Our team of experts remains on call to support businesses impacted by the devastating impact of COVID-19, and help to ensure that they are in the best possible position of commercial strength once we’re through it.

WE ARE HERE TO HELP

Our team of experienced and qualified advisors are still in place to provide advice, support and provide recovery action where require.

At this very sensitive and worrying time for all we are keen to ensure that you have all the facts and support you need to make the very best decision for your business and your clients.