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22-07-2021, 09:40 AM
https://www.todayonline.com/singapore/fb...-landlords
F&B outlets and retailers said more of them will close without assistance such as rental relief from landlords
They are already in "deep red", a representative from a tenants association said
They added that there has been little support from landlords during the heightened alert period since May
With their reserves “fully exhausted” and earnings in “deep red”, retailers and food-and-beverage (F&B) establishments said that more of them could be forced to close if further assistance is not provided.
Mr Terence Yow, chairman of the Singapore Tenants United for Fairness (SGTuff), estimated that about 10 to 20 per cent of customer-facing businesses have shut, with numbers probably higher in the Central Business District and central shopping districts, since the country went into a heightened alert from May 8 due to a surge in coronavirus infections.
And he expects a similar proportion to pull their shutters in the next few months without sufficient help from their landlords.
“We honestly think that this could be the last chance or ability for us to hold out, as long as we can get out of this and as long as we can get some significant help from landlords or (in managing) manpower costs,” he said.
Mr Andrew Kwan, president of the Restaurant Association of Singapore (RAS), said: “If the (companies in the) industry were left to their own devices, I think many would shut down. And that would not be good overall because not only does the company go down, it carries along with it all the employees as well.”
F&B outlets and retailers said more of them will close without assistance such as rental relief from landlords
They are already in "deep red", a representative from a tenants association said
They added that there has been little support from landlords during the heightened alert period since May
With their reserves “fully exhausted” and earnings in “deep red”, retailers and food-and-beverage (F&B) establishments said that more of them could be forced to close if further assistance is not provided.
Mr Terence Yow, chairman of the Singapore Tenants United for Fairness (SGTuff), estimated that about 10 to 20 per cent of customer-facing businesses have shut, with numbers probably higher in the Central Business District and central shopping districts, since the country went into a heightened alert from May 8 due to a surge in coronavirus infections.
And he expects a similar proportion to pull their shutters in the next few months without sufficient help from their landlords.
“We honestly think that this could be the last chance or ability for us to hold out, as long as we can get out of this and as long as we can get some significant help from landlords or (in managing) manpower costs,” he said.
Mr Andrew Kwan, president of the Restaurant Association of Singapore (RAS), said: “If the (companies in the) industry were left to their own devices, I think many would shut down. And that would not be good overall because not only does the company go down, it carries along with it all the employees as well.”
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