PwC faces legal action by some of Britain’s largest landlords over Game Group’s administration to try to recoup unpaid rent.
Hammerson, Capital Shopping Centres and Land Securities are among those that have appointed Berwin Leighton Paisner to advise on a potential class action. The landlords believe the retailer appointed PwC as administrator the day after it was due to pay its rent in March so it could trade rent free for three months while it searched for a purchaser. PwC said it shut 277 stores during the five days of trading in the administration because they were unviable. It said it would be “inequitable” for landlords to expect a full three months’ rent for that short period. It said leases for the remaining stores that were trading were being assigned and it remained in talks with landlords.
22/06/12 Times 39
