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Landlords give indies monthly rents

Major landlords are preparing plans to allow smaller retailers to pay rent on a monthly basis.

It is understood that smaller retail and independent businesses with only a handful of shops will be able to pay their rents monthly, rather than having to pay a large chunk on a quarterly basis.

Landlords including Land Securities and Hammerson are understood to be among landlords working on proposals, following talks with larger retail groups, led by Arcadia owner Sir Philip Green.

Retailers say that paying on a quarterly basis is an outmoded practice and that in an economic slowdown will threaten some businesses who run into cashflow difficulties.

It is thought that smaller businesses will be able to pay monthly without any penalty.

Land Securities declined to give details of talks but said: "There are ongoing, confidential and constructive discussions."

Readers' comments (2)

  • How does it make any difference? if retailers cannot make enough to pay quarterly they are not going to be able to pay monthly either! it just means more admin and debts running up faster on a monthly basis.Those retailers on payment plans wont have spare cash at the end of the month .Are they going to ask the VAT if they can pay monthly as well?

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  • Could help a few businesses who might otherwise overspend on stock, but ultimately all these measures only help of the downturn is short term. More than a few months (which seems likely) and they have the potential (specifically with VAT delayed payments) of causing more harm than good.

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