Major restaurant brands such as Burger King, Caffè Nero, Subway, Nando’s, Pret and Wahaca have written a letter with the leadership of London Union Chief Executive Jonathan Downey to UK Chancellor Rishi Sunak about postponing payments.
The heads of major UK brands, led by Jonathan Downey, have sent a letter to UK Chancellor Rishi Sunak about the plan to save the food and drink sector. Noting that 2 million employees in the industry would save their jobs, Downey said: “This is a proposal for a nine-month #NationalTimeOut – a #NationalRentFree period for hospitality businesses, combined with a matching loan and interest payment postponement for landlords, as well as protection for them from covenant breach and debt security enforcement. This is a big idea that requires new legislation to enable businesses (commercial landlords and hospitality tenants), working together, to shape and create a national solution to the imminent threat of thousands of empty premises.” The founder of the Hospitality union said that property owners who failed to receive rent payments and were pushed into bank debt would also take a warm look at the offer. Signatories to the letter;