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PwC and British Property Federation collaborate to create guide for landlords
PwC's real estate business recovery team has worked with the British Property Federation (BPF) to develop a guide for landlords faced with distressed or insolvent tenants.
There are various options for landlords who find themselves in this situation and the guide contains documents to advise landlords on the best approach. The guide is made up of six documents and can be found via links on the BPF website at:
Mike Jervis, real estate business recovery partner at PwC, said:
"The guide for landlords is a user-friendly and comprehensive look at the approach landlords may want to take when faced with a distressed or insolvent tenant. Landlords are an important stakeholder and in these sorts of situations negotiations with them can be key to the survival of a business. Given the current volume of distressed retailers, this collaboration with the BPF is very timely".
Each link contains information on how the particular insolvency or restructuring procedure might typically evolve, the governance of each process and the remedies normally available to the landlord. Detail to check and information to request is also provided to help the landlord in each case.
The insolvency processes covered are administrative receivership, pre-packed administration, standard administration, company voluntary arrangement (CVA), insolvent scheme and liquidation.
The guide also allows landlords to check where their tenant might be on the 'corporate demise curve', which in turn will influence the options open to a business in terms of restructuring.
For more information contact:
Deputy Head of Media Relations, PwC
Tel:020 7 212 3097
Mobile:07841 783 907