In the UK, bosses of some of the biggest hospitality brands have asked chancellor Rishi Sunak for a nine-month rent holiday to help them survive the Coronavirus crisis.
Signatories to a letter sent to Sunak, include the directors of high street brands Burger King, Pret, Caffè Nero, Nando’s, Subway and Wahaca.
In the letter,it lays out a rescue plan that says will save two million jobs in hospitality and won’t cost the taxpayer anything: This is a proposal for a nine-month #NationalTimeOut – a #NationalRentFree period for hospitality businesses, combined with a matching loan and interest payment postponement for landlords, as well as protection for them from covenant breach and debt security enforcement.
This is a big idea that requires new legislation to enable businesses (commercial landlords and hospitality tenants), working together, to shape and create a national solution to the imminent threat of thousands of empty premises.
Sadly I can’t see this being a reality in Spain, but I wouldn’t be surprised if the UK did come up with it!
(some content courtesy of the Caterer and Hotelkeeper)