The wave of retailers entering CVAs this year is playing into the hands of variety discounters such as B&M in property talks, according to experts.
Richard Curry, Partner in Retail & Leisure explains how variety discounters were able to dictate renewed leases “almost like a new lease scenario”, gaining “six months rent-free, a break at year-three, whatever terms you choose”.
Landlords are “so scared they’re going to clear off,” he said.
The BPF forecasts ongoing disruption from the pandemic “will undoubtedly mean many more [businesses] consider CVAs in the months to come”.
Curry said it also meant “more to come” for variety discounters’ property bargaining power.