Ei Publican Partnerships, the leased and tenanted division of Stonegate Pub Company, has further extended the support for its tied publicans operating on substantive agreements, announcing further subsidised rental payments of 40% for the month of September. This takes its overall support package to in excess of £32.5 Million during the COVID-19 pandemic.
Extend pub rent support
This support follows the granting of 100% rent credits between April and June for publicans who did not qualify for Government grants and trade credits of either 75% or 50% for those who received Government grants of £10,000 or £25,000 respectively.
To further support publicans on re-opening their business all publicans on substantive agreements received a 75% rent credit in July and 50% in August.
Proportionate credits have also been applied to tie release fees and fixtures and fittings rentals for the entire 6 month period.
Ei publicans are now also benefitting from some special promotional pricing on wines, spirits and minerals which will help to grow sales and margin.
Nick Light, MD of EiPP said, “We know from our discussions with our publicans that our support, and that provided by the Government, has made a critical difference to cash flow and given publicans the initial confidence to reopen into an uncertain, socially distanced market.
“About 96% of our publicans are trading and we continue to support the increasingly few pubs who have so far been unable to do so, primarily as a result of their trading format.
“We have been enormously impressed by the determination shown by our publicans to attract customers safely back into their pubs and bars and have been encouraged by initial trading levels.
Good weather and the popularity of the Eat Out To Help Out scheme have undoubtedly helped, and those making the most of their outdoor areas seem to be reaping the benefits. We do not under estimate the ongoing challenges that the industry is facing however, and we remain committed to working closely with our publicans as they navigate their way through the ongoing uncertainty.”
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extend pub rent support – 22 August 2020 – extend pub rent support
