The ACCC’s announcement to grant authorisation for ARA and NRA members to collectively bargain and share information when it comes to rent relief is great news for the retail industry.
NRA CEO Dominique Lamb says the draft determination means that members are one step closer to obtaining a 12-month authorisation to negotiate rent relief measures.
“Retailers have been rocked by the devastating impact of Covid-19,” she says. “Even with restrictions beginning to be eased across most states, many businesses are still struggling to keep afloat.
“Improving the quality of information accessible to both landlords and tenants will result in more productive negotiations and ultimately more effective outcomes for the respective parties.
“With JobKeeper due to end in September, retailers will continue to need all the support they can get to ease the cost of doing business. The NRA welcomes this decision and is very optimistic that the ACCC will grant a 12-month authorisation.”
ARA CEO Paul Zahra adds there is genuine concern among the retail community, particularly small businesses, of the financial ‘cliff’ and what that will mean for their operations and staff.
“This draft determination has those small businesses front of mind and correctly recognises that they can be at a disadvantage when negotiating with large landlords,” he says.
Zahra also reinforces the importance of landlords working constructively with their tenants to help the industry get back on its feet.
“This pandemic has shone a light on how important it is for landlords and their retail tenants to work together to ensure the industry can bounce back following these months of restricted trading. We urge all landlords to come to the table as when retailers thrive, so does our economy.”