Town Centre Securities chief executive Edward Ziff said the landlord had collected the majority of June rent, but was “particularly disappointed” with JD Sports over the Go Outdoors administration.
Ziff said: “While common sense has prevailed in the majority of conversations with our stakeholders, this has not universally been the case.
“We were particularly disappointed with JD Sports in relation to the administration of its subsidiary Go Outdoors. Fortunately, such actions have been the exception rather than the norm.
TCS collected 68% of June rent with a further 11% agreed to be deferred. It has also now collected 79% of March rent, with 8% deferred.
Over the two quarters it has agreed payments of 83% of the rent owed by occupiers. Just under half the portfolio is made up of retail and leisure assets.
TCS said it will maintain the reduced salaries of board members and continues to explore options for retail asset disposals.
Ziff said: “Recognising that we are operating in an uncertain environment that is impacting our financial performance, we continue to manage TCS through this difficult period with the long-term sustainability, and continuing reshaping, of the portfolio being our primary aim and focus.”
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