The cost-of-living crisis has been evident in our local town of Altrincham, with owners of an outdoor food and drink hub announcing it is to close. The closure is because the increase in rent and electricity has had a ‘huge impact’ on the business. This announcement comes after restaurant Bistrot Pierre and diner Mustard also announced closures.
If you are a tenant, who is struggling, it is worth checking if you have a break clause in your lease which will allow you to terminate the lease before the expiry of the term. However, to ensure the break is exercised correctly, the notice must be served in compliance with the lease terms. There may also be break conditions that must be complied with.