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Coronavirus could kill 20% of UK SMEs – research

Almost a fifth of SMEs will not survive the coronavirus crisis, according to new findings from the Corporate Finance Network.  The group predicted that the closures would take place within the next four weeks despite government support measures, as the pandemic continues to unfold and affect retail. The network, which represents independent accountancy firms across the UK, undertook research amongst 13,000 SMEs to obtain the findings.  It said that the situation “looks even more dire” if the lockdown lasts three months or more, with accountants in the network reporting that…

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Closed sign on frosted glass door: Photo by Artem Beliaikin on Unsplash

Aggressive landlords risk empty sites

As the coronavirus crisis continues, swathes of tenants are engaged in fierce negotiations with landlords over rent payments despite the recent forfeiture moratorium designed to protect them from eviction. Following country-wide closures in the industry, operators with little or zero operating income have faced no choice but to withhold rent. But negotiating with landlords is proving a minefield for the majority of tenants who have minimal experience navigating through this unknown territory. For many, the rent quarter on 25 March was a tipping point. When Stephano Borjak, director of Caffe Concerto,…

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UK government has advised the public to stay away from pubs (Flickr)

Can UK landlords help struggling leisure tenants?

Last weekend, Anthony Lorenz’s phone was ringing off the hook. Client after client was calling the London-based veteran tenant rep advisor, all with the same problem. Revenue had fallen off a cliff, cash flow was tight and on 25 March the quarterly rent was falling due. “I had clients I hadn’t spoken to for two years, ringing out of the blue, asking for help talking to their landlord,” the managing director of The Lorenz Consultancy said. “We act for some of the biggest clubs, bars and restaurants in the West…

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