Elo to temporarily interrupt the collection of rent from restaurants and cafés
Elo will interrupt the collection of rent from restaurants and cafés for the period 1 April–31 May 2020. The aim is to provide better conditions for the business continuity of the tenant companies.
The decision is based on the Finnish Parliament’s decision to close restaurants until the end of May in order to curb the spread of the coronavirus epidemic.
The interruption of rent collection applies to restaurants and cafés in business premises that are fully owned by Elo. Rent for the period in question will not be collected in arrears either.
Prompt action is required for the fast recovery of business after the crisis. The recovery of business life is in everyone’s best interests.
Thus far, Elo has extended the payment periods for the following months’ rents and reduced the required minimum opening hours in shopping centres, among other measures. These measures have been applied to the sectors most affected by the crisis. Flexible solutions have been and will be found on a company- and case-specific basis.
Cooperation will carry us through challenging times
We are now living in exceptionally difficult times. Our common goal is to overcome this crisis as well as possible. The situation caused by the coronavirus epidemic is very challenging for pension insurance companies, too, as the crisis affects the business of many tenant companies. As the circumstances of the tenant companies vary, there is no single solution that would be suitable for all.
We want to support our customers’ business operations, but we must also bear in mind our statutory responsibility for the current and future pension cover of our more than 700,000 customers. This is a responsibility that we cannot forget even in exceptional circumstances.
We follow the overall situation and regulations issued by the authorities and hope that the situation will develop favourably as soon as possible.
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