Shopping center owners claim 50% loss of revenue

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The initiative group of the Russian Council of Shopping Centers sent a letter to the State Duma with a request to include shopping centers in the list of strategic ones in order to receive support from the state. Now the owners of large retail space are losing at least 50% of their proceeds, which is precisely one of the conditions for obtaining state support. Landlords, in particular, emphasize that they are doing everything possible to save tenants - in many shopping centers during a pandemic, they reach 90% of the usual payment. In addition to the benefits provided, landlords are considering, and some are actively introducing insurance programs for tenants to gradually return to previous levels after starting a business.

As a retaliatory measure, entrepreneurs propose to introduce a so-called six-month moratorium for the RTC on the collection of payments for loans, as well as provide a six-month vacation for paying taxes on land, property, rent for state and municipal property.

“Currently, retail chains carry out trade for the issuance of orders through retail outlets, and also carry out sales via the Internet. A significant part of retail operators have lost at least 50% of their revenue, ”the appeal says.

The State Duma adopted a similar bill in the first reading, noting the need for its revision. The second reading of the document was scheduled for May 13, but then it was postponed for a week.

"This is more than a fair distribution of the burden of losses for both parties, an agreement on which is reached without government intervention," the letter says.

Source: RIA News

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