Landlords face receiving no rent for three years from struggling retailer Wilko as it draws up its company voluntary arrangement.
The family-owned discounter is seeking rent cuts on up to 250 of its 400 shops, with some landlords set to receive no rent. Stores on high streets and in shopping centres will be hit harder than those in retail parks.
Under the terms of the CVA, the rent will revert to the contractual amount after three years. Wilko does not plan to close any stores, although it anticipates that some landlords will chose to take back their properties.
