GOVERNMENT EXTENDS BAN ON COMMERCIAL EVICTIONS!
A commercial lease moratorium was extended by another 9 months yesterday meaning landlords can not evict tenants out of their premises until at least March 2022.
A report suggests that almost £6 billion worth of unpaid rent has built up over the last 15 months. There have been widespread fears that an avalanche of evictions and insolvencies would happen on the lifting of this moratorium. Businesses can now let out a sigh of relief and hope that they can get themselves back on their feet financially.
It’s worth noting that if you can afford to pay full rent or at least start chipping away at the arrears that would be a good idea. The rent is still going to need to be paid at some point.
If you require any further advice please don’t hesitate to contact us.
Justin Barker
I’m Justin Barker, the Managing Director at 1st Business Rescue. I have over 25 years of experience providing insolvency advice to business owners.
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