UK

WHEN IS A PROMISE NOT A PROMISE?

Through our relationships with other people, we often make promises. You may promise to do something, or you may promise not to do something (you may even promise yourself you’re going to get fit once gyms re-open…!). But what does the law have to say about all of this: are promises legally enforceable? If you break a promise to yourself and find that you are firmly parked on the sofa rather than the gym, the only repercussion will be an expanding waistline. But what if you make a serious promise to a friend or relative – would that be legally enforceable if you renege on it? Read more…

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Distressed retail: The new landscape

The retail sector has been badly affected by temporary covid closures. But with this coming on top of major structural changes in the sector, the damage is extreme. We have seen mass closures and the disappearance from our high streets of many well known names. Some have been rescued but often by transforming them into businesses much more orientated to online sales and with less (or no) ongoing high street units. And we fear that there is more to come, particularly for  medium sized and smaller chains as they emerge from government temporary protections against creditor actions, supported loans and the furlough scheme.

This is a threat to many but an opportunity for others.

In the articles below our experts look into a variety of topics to be borne in mind by retailers or their prospective rescuers to navigate through this new environment.

We hope you find it useful.

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