Greene King provides £15m support for tenants during pandemic

Greene King Pub Partners has written to all its leased and tenanted partners confirming the additional support it will provide them as pubs look to adapt to reopening post lockdown.

Since pubs closed for the Covid-19 lockdown, Greene King has provided approximately £11m in rent concessions as well as investing around £4m in support for its partners.

The latest update to its 1,000 partners confirmed that every pub would receive a £250 Personal Protective Equipment (PPE) kit for reopening, including face masks, visors, gloves, and hand sanitiser gel. Each pub has also been offered £120 of Covid-19 signs for pub gardens and interiors, plus free online training courses covering Covid-19 topics such as service after lockdown and personal protection.

Greene King Pub Partners managing director, Wayne Shurvinton said, “We wanted to make this additional £250k PPE investment as it’s the right thing to do for our partners, to give them the best platform possible to recover their business during this hugely challenging time for us all.

“We know there is no better investment we can make right now than backing our partners to succeed and this has been at the forefront of our minds throughout.

“I’m pleased that we can offer this next step of support for reopening, backing up our 90% rent discount for the first four weeks of reopening and 50% for the following four weeks, as well as discounts on casks and kegs as well.”

To date, Greene King Pub Partners has offered the following financial support for its tenants:
• An estimated £11m of rent concessions, with support offered to pubs in the most urgent need of financial help for the first 12 weeks’ closure up until 10 June, for example if they were not eligible for government grants, followed by a 90% rent concession for all tied pubs from 11 June until they can legally reopen, continuing for the first four weeks of reopening. This is then followed by a further 50% rent concession for the next four weeks after reopening.
• Estimated £3.6m of product support, which includes the replacement of kegs and casks for unopened barrels that will be out of date when pubs reopen and discounts for tied tenants on kegs/casks purchased for the first eight weeks of reopening.
• £250k on PPE starter kits for all tenanted pubs
• £120k on Covid-19 safety signage for pubs

The PPE kits will be posted to pubs from 29 June ahead of reopening, with the earliest pubs can legally reopen currently scheduled for 4 July by the government.