Shepherd Neame announces 10% rent reduction

Shepherd Neame has announced a 10% rent reduction for its licensees from 1 January 2022.

The move has been triggered by the ongoing Covid-19 situation, which has impacted consumer confidence during a critical trading period for the hospitality sector.

When lockdown first came into effect in March 2020, the Faversham-based brewer and pub operator cancelled all pub rent during the period of closure. This was followed by continued provision of reduced rent after reopening, totalling more than £7m of support to date.

This support follows the government's Plan B restrictions, which are being reviewed every three weeks, and will remain in place so long as Plan B restrictions are retained. If the restrictions are escalated, Shepherd Neame will review its rental position.

“These remain challenging times, and we want to ensure we continue to offer every support possible to help our licensees preserve the future of their businesses," says chief executive Jonathan Neame (pictured above). "Throughout this crisis our focus has always been to protect our people, our pubs and the company for the long term.”

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