The £1bn burden of bust Britain
Hunter, Rachel
The £1bn burden of bust Britain - 2012 - Property Week 78(45) 9 November 2012, 39-40(2) .
Landlords and councils are being crushed by a burden of nearly £1bn losses caused by a raft of "scandalous" retailer prepacks and company voluntary arrangements (CVAs). 2012 is heading towards being the worst year for retail administrations since 2008 with 50 retail and leisure operators going bust to date. Under the impact of these retail administrations and CVAs retail property values have declined by more than 30% since 2007, dipping by 5% in the last year. Most landlords have tried to support retailers by offering monthly rents or shorter, more flexible leases.
ENTERPRISE ACT 2002
INSOLVENCY ACT 1986
United Kingdom
The £1bn burden of bust Britain - 2012 - Property Week 78(45) 9 November 2012, 39-40(2) .
Landlords and councils are being crushed by a burden of nearly £1bn losses caused by a raft of "scandalous" retailer prepacks and company voluntary arrangements (CVAs). 2012 is heading towards being the worst year for retail administrations since 2008 with 50 retail and leisure operators going bust to date. Under the impact of these retail administrations and CVAs retail property values have declined by more than 30% since 2007, dipping by 5% in the last year. Most landlords have tried to support retailers by offering monthly rents or shorter, more flexible leases.
ENTERPRISE ACT 2002
INSOLVENCY ACT 1986
United Kingdom