The North East’s business advisory trade body has warned businesses over looming rental payments amid rising insolvency figures.
Business owners worried about meeting their end-of-year property payments should be speaking to their landlords now before they slip into arrears, according to Chris Ferguson, North East chairman of insolvency and restructuring trade body R3. He was speaking ahead of the final Quarter Day of 2022, which falls on Christmas Day.
Quarter Days, which traditionally occur towards the end of March, June, September and December, are the dates on which commercial rental payments are due and they can prove to be a pressure point for companies already struggling with long-term financial challenges.
