The Dorset brewer said last month it would extend its cancellation period of all rent and service charges as well as suspending loan repayments until Saturday 27 June.
Now, it has said its Business Partner estate will not have to pay rent for eight weeks after the Government confirms pubs can reopen. Service charges will begin again for tenants after the first four weeks of this period.
At the end of this two-month rent cancellation period, the following five weeks’ rent will be charged at 50% the usual rate, given that trade may be slow to return to sites.
Suspensions continued
Loan repayments for fixtures and fittings will continue to be suspended and will start again from October 2020. Repayment of any existing trade or rent balances from before pubs were ordered to close will be suspended until March 2021.
H&W head of business partnerships Chris Chapman said: “As pubs begin to enter the reopening phase, we acknowledge 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.”
The pub company has a portfolio of some 180 sites in the south of England.
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