Covid 19 - What you need to know - PGB and PGB Scotland agree pause in rent reviews.
On Wednesday (15th April), the Pub Governing Body (PGB)in conjunction with the PGB of Scotland announced that they had agreed with the pub companies who follow the Tenanted and Leased codes of practice and self-regulation that all rent review negotiations will be suspended while pubs remain closed during the coronavirus epidemic.
Sir Peter Luff, Chair of the PGB said, when announcing the agreement:
“This pragmatic and sensible step is in addition to any agreements individual companies have put in place for their pubs and relieves all tenants of one possible worry during the coronavirus epidemic. It runs from 16th March until at least until the end of June, by when we all hope we will have returned to more normal trading conditions.
“This quick and flexible response to the current crisis shows how voluntary regulation brings real benefits to pubs and we hope it will be welcomed.”
Details of what changes have been agreed and how this will impact your negotiations can be found within the PGB announcement which can be read in full here.