Head of UK’s second-largest property company says ‘loophole in the law’ puts landlords at a disadvantage.
In an exclusive interview with Property Week, the chief executive of the UK’s second-largest property company said a “loophole in the law” put landlords at a disadvantage when creditors came to vote on a retailer’s CVA.
Grigg said he was also concerned about the announcement earlier this week by Next chief executive Lord Wolfson that the fashion store was exploring the idea of putting a clause in its new leases, enabling it to demand rent cuts from landlords if a neighbouring store had its rent reduced via a CVA.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts