Ei Publican Partnership tenants to receive rent reductions in October and November
In October, tenants operating substantive agreements will see rent reduced by 30%, tapering down to 20% in November.
It follows the rent and credit provisions Ei gave to licensees from April to September including those publicans who were not eligible for Government grants receiving a three-month rent credit for the period.
This has meant the company has provided an overall support package in response to the coronavirus lockdown of more than £36.5m.
Uncertain times
Ei Publican Partnerships managing director Nick Light said: “The road out of lockdown is a long one and we are standing by our publicans every step of the way to help safeguard their businesses in these uncertain times.”
In June, the company revealed plans to distribute 1m items of personal protective equipment (PPE) to its operators ahead of reopening.
The PPE packages, which cost the operator about £280,000 to distribute throughout its estate of more than 4,000 pubs, contained disposable masks, disposable gloves, hand sanitiser and rolls of black and yellow self-adhesive floor tape.
Safety and wellbeing
At the time, Light said: “The safety and wellbeing of our publicans is most paramount. This additional £280,000 investment in PPE is just one of the many ways we are making sure our pubs can reopen from lockdown in a safe and sustainable manner whilst providing an enjoyable experience for customers.”
This came after brewer and pub operator Greene King revealed plans to spend in the region of £250,000 to send out PPE kits to its 1,000 pub partners from 29 June.
Following the acquisition of Ei Group in March this year for £1.27bn, Stonegate Pub Company is now the largest in the UK.
It has a portfolio of 1,270 venues within its managed arm and 3,000 in the tenanted and leased estate.
