Shepherd Neame is pledging to continue support for its licensees in light of the ongoing Covid-19 situation.
When lockdown first came into effect in March 2020, the Faversham-based brewer and pub operator immediately cancelled all pub rent during the period of closure. This was followed by continued provision of reduced rent after reopening, totalling more than £7 million of support to date.
In light of the ongoing Covid-19 situation, which has impacted consumer confidence during a critical trading period for the hospitality sector, Shepherd Neame has announced a 10% rent reduction for its licensees from 1 January 2022.
This support is aligned to the Government's Plan B restrictions, which are being reviewed every three weeks, and will remain in place so long as Plan B restrictions are retained. If the restrictions are escalated, Shepherd Neame will review its rental position.
Chief Executive Jonathan Neame (pictured) said, “These remain challenging times, and we want to ensure we continue to offer every support possible to help our licensees preserve the future of their businesses. Throughout this crisis our focus has always been to protect our people, our pubs and the Company for the long term.”