With all the press announcements recently, there is in some quarters the belief that the lease has been broken.
But has it? When a company goes into admin, all ongoing liabilities remain intact until negotiated otherwise (as far as I know this hasn't occured), and under TUPE rules all liabilites (such as rent) are transferred to the "new" company.
No question they are in breach of contract, but that doesn't necessarily mean automatic cancellation of contract! Of course an expert could tell one way or another, but certinly had sisu paid rent in full the lease would have continued as before!
Is this correct? would like to hear from OSB / squirrel or anyone else who may well know for definite
But has it? When a company goes into admin, all ongoing liabilities remain intact until negotiated otherwise (as far as I know this hasn't occured), and under TUPE rules all liabilites (such as rent) are transferred to the "new" company.
No question they are in breach of contract, but that doesn't necessarily mean automatic cancellation of contract! Of course an expert could tell one way or another, but certinly had sisu paid rent in full the lease would have continued as before!
Is this correct? would like to hear from OSB / squirrel or anyone else who may well know for definite