The ban on commercial evictions due to end this month has been extended again until 25 March 2022, to the dismay of many commercial landlords.
Whilst an extension of the current moratorium has been widely predicted, few thought it would be prolonged for a further nine months or be accompanied by new primary legislation forcing concessions onto landlords.
This means the eviction ban will now run past the two-year mark, increasing the severe financial difficulties already being shouldered by commercial landlords because of the pandemic.
The latest extension is specifically aimed at helping some of the businesses worst affected by the pandemic, like bars and restaurants, after the planned 21 June easing of lockdown plan was delayed.
Commercial Rent Arrears Recovery (CRAR)
Statutory demands and winding up petitions
The government says it will ‘ringfence outstanding unpaid debt that has built up when a business has had to remain closed during the pandemic’.
Although current details are scant on how this new approach will work, we do know that:
Wards Solicitors’ highly experienced Commercial Property Disputes team can provide more information, advise you on what to do next and help find a solution.