Business group Ibec is proposing a new Government-backed moderator that would help troubled retail and office tenants strike deal with their landlords.
Arcadia[/url] retail giant has sought administration in Britain and Ireland, and the shuttering of all [url=
https://red.irishexaminer.com/business/companies/arid-40120112_puid-102.html]Debenhams[/url] stores in Britain.
Fergal O'Brien, director of policy at business group Ibec, said it was looking at the way other countries, including Sweden, provide incentives to landlords and retailers to keep businesses afloat and that "more needs to be done in Ireland" by strengthening what is only a voluntary code. It is asking the Government to sponsor some sort of body that would have the power to offer incentives to resolves disputes between landlords over rent.
"We are conscious of the problem of commercial rents, particularly but not exclusively for retail, and we are looking at what has been done in other countries to help those businesses where rents could threaten the viability of the business," Mr O'Brien said.
"At the moment we have only a voluntary code between the landlords and tenants in the commercial sector but we feel more is needed because we want to ensure we don't lose jobs or viable businesses because of the strain on commercial rents," he said.