Qualified advisers answering your
Financial Questions
call 0800 092 1245

Blacks Leisure awaits ruling from landlords

UK outdoor clothing retailer Blacks leisure will this week learn whether the 101 landlords who own the 89 stores which the company closed, or are due to close, will give up their full entitlement to compensation in return for a maximum of six months rental income. If the deal goes through it should safeguard the future of the remaining 291 stores in the UK and a significant number of jobs.

The company only needs 75% backing from landlords, in relation to the 89 stores which have been closed, and it is believed this should be forthcoming over the next few days. As many of the landlords in question also have exposure to other stores which are still open it seems to be in their best interest to give a little back to the company to ensure its future. However, as ever nothing is certain in this particular field of the retail market as we have seen some landlords pull the plug on their tenants after taking a very short-term view.

The company has already put aside £7.25 million to compensate the 101 landlords in question and the scheme should go into force on 23 December if landlords vote in favour. Whether this is a route which any other UK retailers will follow in due course remains to be seen but it is certainly an option.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details