A pub operator in the South West has waived all rent due from tenants during January, saying the start of the year will present fresh challenges for the hospitality industry.
Exeter-based Heavitree Brewery, which owns more than 60 tenanted pubs, said in a stock exchange update that it is charging tenants at pubs that can trade during December 50% of their usual rent. All rents for January have been cancelled “with what is anticipated to be a very difficult trading environment for the hospitality industry”.
The company previously cancelled rents between April and July, then charged 25% of usual rents in August, 40% in September and 50% in October before cancelling November rents.
