Australian franchising welcomes ACCC rent relief ruling
The ACCC decision to allow tenants to collectively bargain with landlords if they’ve been adversely affected by COVID-19 has been welcomed by the Franchising Council of Australia (FCA).
FCA CEO Mary Aldred says the decision recognising the urgency for retailers and landlords to collectively negotiate rent relief is an excellent outcome following the joint application to the ACCC by the FCA with the National Retail Association, Australian Hotels Association and the Pharmacy Guild.
“Small businesses have been hit hard by COVID-19 and although restrictions are starting to be eased, the impacts of COVID-19 on individual businesses and the economy nationally will be felt for some time”, says Mary Aldred.
“The ACCC’s decision to allow tenants and landlords to get together and collectively negotiate outcomes that optimise businesses’ ability to meet rental obligations will support their ongoing sustainability. “Following the favorable ACCC ruling, the FCA will be advising members to review their own circumstances and discuss with their peers and landlords the best utilization of rental relief to deal with the current crisis on the path to recovery.”