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80% of retailers behind with rents – survey

A survey carried out by Retail Excellence has found that 80% of retailers are in rent arrears with at least one landlord.

In around 20% of cases where retailers were in arrears, respondents said that the landlord would not engage with them.

The survey of 145 retailers, covering 1,650 retail outlets, was carried out by the representative body after it appeared before an Oireachtas committee last month to discuss the challenges facing the sector due to the pandemic.

Non-essential retail outlets were closed for around nine months due to public-health restrictions.

Smaller landlords ‘reasonable’

The survey found that two-thirds of rent arrears cases “without an appropriate resolution” involved institutional landlords and shopping centres.

When landlords were willing to engage, according to retailers, the most common solution offered was 50% off on periods of closure, or a deferred-payment plan.

“We welcome any engagement from landlords on rent arrears, and as such it is concerning to see one in five respondents say landlords are not engaging with them on rent due, and are demanding full payment, despite the fact that stores were shut for nine months,” said Retail Excellence managing director Duncan Graham.

“Deals are being done across the board but, in general, it seems it is the smaller, local landlords that are being reasonable and willing to compromise,” he added.