// Sainsbury’s gives all concession partners tenants one month rent free holiday
// Hundreds of tenants also offered payment term changes to assist with cash flow
// Sainsbury’s writes to all of its tenants to give immediate support
Sainsbury’s has offered its concession partners and tenants a one month rent holiday to help them mitigate the financial impact of the coronavirus pandemic.
The Big 4 grocer said all 250 of its tenants and concession traders were offered immediate support, which also includes the opportunity to pay rent on a monthly basis opposed to quarterly in advance – as announced yesterday.
Sainsbury’s said it was writing to all tenants across its estate today to offer the rental assistance.
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“Sainsbury’s is committed to supporting our great tenants and partners during this unprecedented time of uncertainty,” Sainsbury’s property director Patrick Dunne said.
“We are doing our best as a responsible landlord to relieve pressure where we can.
“Sainsbury’s has met its quarterly rent obligations in support of our landlords and will be in discussions with them going forward.
“We have a strong track record of working with our tenants and concession partners and we are very pleased to be able to offer them as much support as is needed in this difficult period.”
The news comes the day after the retailer stepped up support for its suppliers amid ongoing uncertainty from the coronavirus crisis.
The Big 4 grocer said it would work collaboratively with suppliers to support them with vital cash flow where needed, which includes a commitment to pay nearly 1500 small suppliers immediately.
These small suppliers are classified as having less than £100,000 annual turnover with Sainsbury’s.
Last week, Sainsbury’s confirmed it was “fully committed” to supporting all colleagues who are unwell or self-isolating, and that they would receive full pay for the full period of 14 days.
The grocery giant added that it would also pay elderly and vulnerable staff in full if the government decides they should self-isolate for 12 weeks.
The Big 4 grocer also implemented measures to assist elderly and vulnerable customers as well as NHS and social care workers, as well as social distancing measures in-store.