Star Pubs & Bars spends £2.8million on rent reductions
Tuesday, October 13, 2020
Star Pubs & Bars & Belhaven has cashed in with rents to help pubs in Scotland through the upcoming 16 days or more.
Star Pulls & Bars will extend tenure deals for its leased pubs and lettings through November at a cost of £2.8 million, a monthly review will take place in the near future, the company announced.
The figures can be spotted on Star Pubs & Bars' website, and the move takes Star's total investment in tenancy losses since the end of March to £27.8m.
Pubs benefit from 30, 35 or 50% discounts, based on what they are individual with each situation and the amount of state support they can claim.
It also scraps rent for more than 100 of its pubs under the scheme, which will shut in Scotland's Central Belt for 16 days.
Lawson Mountstevens, the chief executive of Star Pubs & Bars, said: "We're committed to helping our licensees through these uncertain times and reducing rent is central to the support we're providing."