UK retailers pay only 14% of £2.5bn rent due this week
UK retailers stumped up just 14% of the £2.5bn quarterly rent bill due this week, as the high street crisis triggered by the lockdown reverberated through the property industry.
The collapse in the rental take to a record low adds to the woes of Intu Properties, one of Britain’s largest shopping centre owners, which on Friday faces a deadline to convince lenders to grant a debt repayment holiday. If talks break down, the owner of the Trafford Centre in Manchester says it could go into administration.
Read more at the Guardian.