Retail Excellence tells TDs ‘rent amnesty required’
Retail Excellence, which represents 2,000 retailers has told TDs and senators that landlords must give shop owners a 50 per cent rent “amnesty” for the first four months of the year, during which the sector was entirely closed due to virus restrictions.
Retail Excellence appeared before the Oireachtas joint committee on Enterprise, Trade and Employment on Wednesday 7th July, where CEO Duncan Graham warned of a potential “catastrophe” in the sector if retail landlords seek full repayment of rent for closure periods.
The warning came as shopping centre owners and other retail landlords continue to pursue many shop owners through the courts for unpaid rent.
Shopping centres such as Jervis shopping centre and Liffey Valley in Dublin, and MacDonagh Junction in Kilkenny, have launched cases against tenants in recent weeks.
Duncan Graham said the retail sector faces a “financial cliff edge” over mounting rent arrears and retailers will be “decimated” if landlords insist on calling in all debts due for periods when shops were forcibly closed.