Landlords getting tough with so-called rent rebels could force 5,834 companies out of business and trigger 326m worth of insolvent debt that further decimates city centres, according to analysis from Stockport based insolvency score, Red Flag Alert.
Concerns are mounting that April will see companies fighting for survival after a COVID-19 moratorium on evictions ends on 31stMarch 2021 and business rates start again after a 12 month tax break for retail, hospitality and leisure businesses.
The end of these support measures is likely to see landlords demanding quarterly rent payments on 1st April and taking tougher action against non-payers, which forces struggling companies out of business.
Managing Director of Red Flag Alert, Mark Hals…
Read the full article at: https://aboutmanchester.co.uk/calling-time-on-rent-rebels-could-lead-to-over-5000-insolvencies/