In times of crisis it can be mightily tempting to indulge in some retail therapy. Yet, save for going online, shopping is all but out in the current climate. Only essential outlets such as supermarkets and pharmacies remain open as part of attempts to stem the spread of the coronavirus.
The nation’s lockdown is deepening what has already been a prolonged crisis for many commercial landlords, especially those that own shopping centres and retail parks, battling to respond to the downturn in trading at bricks and mortar stores. For those with heavy debts on top, the situation is becoming life-threatening.
Chronically indebted commercial property owners are facing a squeeze. On one side there are its tenants, baying for rent reductions and waivers while they are