Retail in Britain threatens “tsunami closure” if the government does not extend the acting moratorium on debt recovery. With this forecast, British Retail Consortium (BRC) (BRC) (BRC), representing the interests of the industry, reports Reuters.
Each seventh store in the country is already empty: the trading points that did not sell “vital” goods are forced to close in a pandemic. Common lease debts reach 2.9 billion pounds, counted in BRC.
Two-thirds of representatives of Retail declares that rental debts with them are going to demand through the court after July 1 – on this day the moratorium action is completed.
80 percent of tenants argues that they were given less than a year to pay off debts. The cessation of the moratorium may lead to the closure of thousands of stores, they speak BRC, calling for the British government to extend the moratorium until the end of the year.
The temporary ban on the recovery of lease debts in the commercial sector was introduced in the country in April 2020 and later repaired. The government has banned the landlords to resort to “aggressive” methods for receiving debt.
Against the background of the coronavirus pandemic and the introduction of Lokdaunov with the crisis, the whole world economy collided. Even after the abolition of restrictions, business continues to face the consequences of the crisis, including due to the shortage of labor and continuing uncertainty.