Rent holiday for CCC and Ultro tenants

“We will not be collecting rent from tenants whose units are closed. We cannot act in a short-sighted manner, because the entire sector is under threat. Tenants, landlords, banks, suppliers and customers all make up part of the same interconnected system. No one can leech of each other right now, because soon there might not be anybody left to get money from. In this difficult time we have to support each other because this crisis will have an impact on us all,” explains Jakub Puchalski, the CEO of Ultro Holding, which is responsible for managing Galeria Korona Kielce and Cuprum Arena in Lubin.

“We are waiting for decisions by the government to act; we are not scrutinising contracts or our rights to calculate payments due to us. Today, in this absolutely extreme situation, our aim is to make a strong statement. by cancelling rent payments completely. This is a response to what we are all confronted with in the here and now, because our long-term cooperation with tenants is important to us. We realise that even after shopping centres re-open, it could take at least several months for their usual traffic to be restored. We will sit down with each individual tenant in order to talk and work out the conditions that will allow us to continue to mutually function through this difficult period. This decision was made by the owner of both centres – Dariusz Miłek. The CCC group includes such brands as Eobuwie.pl, Gino Rossi, Deezee and Modivo,” adds Jakub Puchalski.

“The banks cannot turn a blind eye to what’s happening. We cannot imagine that they will now turn their backs on owners and investors in the development and retail sectors. Payback times can be extended, and loan and interest payments can be postponed. It is necessary to save the retail sector, which first of all employs hundreds of thousands of people, and secondly pays taxes to the state. Quick decisions and long-term thinking as well as an appreciation of the gravity of the situation and solidarity are what are needed to get us through this crisis,” insists Jakub Puchalski.