Will your portfolio be affected by the Coronavirus?
We know that our clients will be concerned about the spread of coronavirus (Covid-19) and how this will impact on UK businesses.
Start the process today with our experienced Recovery Account Managers provide industry leading advice to landlords and property agents across the UK.
For example, we are aware that the press is reporting that some retailers are already requesting a three-month rent holiday from landlords.
The ongoing situation, as it continues to develop, poses significant challenges for us all and we must obviously ensure that we are all focused on being commercially supportive and empathetic towards our clients during this challenging time. At the same time, though, it is also important that you protect your own business as best you can through what will doubtless be a difficult trading period so that you minimise the disruption caused and remain in the best possible shape to maintain operations once we emerge beyond the effects of the virus.
We are working closely with clients who have already approached Debt Squared Group to keep rent and service charge recoveries moving quickly through the system, and are available 7 days a week to speak to and support our clients with our National Team of Certificated Enforcement Agents continuing to operate at full capacity.
Working to support our clients
There are some clear steps to be taken, and that we can assist with, in order to ensure that, whilst being supportive of your client base, you are able to protect the commercial interests of your own business as best you can. These are below:
- The CRAR Enforcement Notice ‘binds’ the tenant’s goods to prevent fraudulent disposals. So, though you may wish to provide a level of relaxation to clients in short term difficulty, the issue of this notice will provide you with a buffer period of 12 months to "enforce" the Warrant of Control, thus providing you with a level of longer term security.
- Debt Squared Group will provide clients FREE Business Credit Risk Rating reports on all CRAR / SCAR instructions, to enable you to get an up to date picture of the financial status of your clients, and better inform your decision making processes through this critical period.
- Trading in difficult circumstances can result in a wealth of problems, impacting on both creditors and directors. Often companies continue to trade in financial circumstances that could give rise to potential personal liability for the company’s officers as well as possibly exposing landlords and other stakeholders to greater losses. Debt Squared Group partner with Insolvency Practitioners providing assistance in the full range of business turn-around and insolvency processes carried out under UK legislation.
- Debt Squared Group can escalate same-day Security Services for clients wishing to protect properties and businesses that have closed their buildings as a temporary measure to reduce risk to their employees and customers.
Contact us today to discuss your portfolio requirements and how we can support your business.
We are here to help
Our team of experienced and qualified advisors are still in place to provide advice, support and provide recovery action where require.
At this very sensitive and worrying time for all we are keen to ensure that you have all the facts and support you need to make the very best decision for your business and your clients.