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Betfred asks landlords for 'rental holiday' as sporting calendar collapses due to coronavirus

Business Live has seen a letter from g roup chief operating officer Mark Stebbings

Punters at a Betfred store. Photo credit: Simon Cooper/PA Wire.(Image: PA)

Betting giant Bedfred is asking landlords for a 'rental holiday' as the sporting calendar collapses due to coronavirus.

Business Live has seen a letter from g roup chief operating officer Mark Stebbings in which they say they have no option but to put all rent payments on hold.

They need the measures to kick in immediately - with the shortfall made up once the crisis is over.

Mr Stebbings wrote: "With virtually all major sporting events either being cancelled or suspended, including all British Horse Racing until at least the 30 April 2020, we have had no option but put on hold all Occupational Costs (including rents, service charge & Insurance) for our retail estate for the next scheduled payment date.

"This includes all properties due to be paid on the 25 March 2020 any properties where we currently pay on monthly terms.

"This decision has not been taken lightly and I would emphasise at this time we are not looking for a rental deduction.

"We require a rental ‘holiday’ to allow us to get over the current challenges which are unprecedented in modern times.



"Our intention is, when normal trading conditions are resumed, and the sporting calendar has returned to normal to make up the shortfall."