Sunday October 25, 2020

Atlantic poised for major rent reductions

Atlantic Homecare's High Court bid to reduce rent costs will have massive implications for Ireland's commercial property market, writes Ian Kehoe.

15th September, 2012
Atlantic Homecare will ask the High Court to approve an arrangement to reduce rents with its landlords. Photo: Maura Hickey

Landlords beware. Atlantic Homecare, the DIY chain, is on the verge of sealing a landmark deal that could set a precedent for companies struggling under the weight of boom-time rents.

The company will ask the High Court tomorrow to approve a scheme of arrangement which has seen the company secure "substantial reductions" in property costs from its landlords.

The majority of the landlords have signed up to the scheme, a copy of which has been...

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