Dorset independent brewer Hall & Woodhouse has confirmed the rent cancellation and loan suspension period for its Business Partner estate will be extended to cover the pubs’ reopening phase.
They have announced that publicans will now be exempt from paying rent for eight weeks after the Government confirms pubs can reopen, and service charges will commence after the first four weeks. After the initial eight week rent cancellation period, the subsequent five weeks of rent will be charged at 50 per cent of the normal levels, allowing trade to continue to build.
Loan repayments for fixtures and fittings will remain suspended and will recommence from October 2020. Repayment of any existing trade or rent balances from before the lockdown will be suspended until March 2021.
Chris Chapman, head of business partnerships at H&W, explained: “As pubs begin to enter the reopening phase, weacknowledge that our financial support must continue beyond the closure period. The global health crisis has impacted so many different sectors and it will take time for businesses to return to normal operating levels.”
“As a company, we have taken quick and decisive action since the beginning of the lockdown to help support our Business Partners. Our Business Partnerships are built on solid foundations and long-term commitment and it was the only option to support them through this.”