21/04/2020
All hospitality and leisure venues, including institutions like the Cork & Bottle, face existential threats going forward.
This proposal has been put forward by the newly formed , led by Jonathan Downey, calling for a national 9 month time out on rents.
Across our wine bars, no landlord has cancelled rent. Without a rent cancellation (not just a rent holiday) many, many venues will not survive. This is only going to come with further government intervention.
We have had different responses from different landlords for our sites. None of them in a situation to cancel rent while we are closed or beyond.
Please note this is not a whinge at "greedy" landlords - remember many landlords will have mortgages or loan notes they need to cover. This proposal does offer a solution for them as well. They are acutely aware that our problem today, becomes their problem tomorrow and sites sitting empty helps nobody.
Some have given us a rent holiday but want the money when we re-open (how is paying effectively extra rent going to work withj reduced customer levels and social distancing measures?)
Some have said we can pay it back over time and given some credit terms. However, this is on the basis of us only being closed for three months!
First closed, last open. We have only just started...
Being realistic we will not be back to normal for at least nine months. And then it is still unlikely we will be back to where we were before the onset of this crisis.
Please read the article and understand that without something major coming from government, the future of not just our beloved Cork & Bottle but ALL restaurants, music venues etc... hang on a precipice.
Please all of our loyal customers and followers share - we need this everywhere to gain further traction. The more publicity we have can only help.
Salut, Will
https://twitter.com/bbcbusiness/status/1252380621759844354?s=21
https://twitter.com/bbcbusiness/status/1252380621759844354?s=21
“Coronavirus: Restaurant bosses call for rent holiday https://t.co/uMXQW4xDG9”