Shepherd Neame is pledging further support for its licensees in light of the ongoing Covid-19 situation.
When lockdown first came into effect in March 2020, the Faversham-based brewer and pub operator immediately cancelled all pub rent during the period of closure. This was followed by continued provision of reduced rent after reopening, totalling more than £7 million of support to date.
In light of the ongoing Covid-19 situation, which has impacted consumer confidence during a critical trading period for the hospitality sector, Shepherd Neame has announced a 10% rent reduction for its licensees from January 1, 2022.
This support is aligned to the Government’s Plan B restrictions, which are being reviewed every three weeks, and will remain in place so long as Plan B restrictions are retained. If the restrictions are escalated, Shepherd Neame will review its rental position.
Chief Executive Jonathan Neame said: “These remain challenging times, and we want to ensure we continue to offer every support possible to help our licensees preserve the future of their businesses. Throughout this crisis our focus has always been to protect our people, our pubs and the Company for the long term.”
About Shepherd Neame
Britain’s oldest brewer Shepherd Neame has been based in the market town of Faversham, Kent for over 300 years. Perhaps best known for great British classic ales such as Spitfire, which carries the Royal Warrant, its diverse portfolio includes Five Grain Lager, the Bear Island Collection and the Whitstable Bay Collection. It also brews international lagers under licence including Samuel Adams Boston Lager, and is the sole UK distributor for premium Thai lager Singha and Truly hard seltzer. The independent family business boasts an award-winning visitor centre and more than 300 pubs and hotels throughout London and the South East, from the historic heart of the City to the Kent coastline.
Press release from Shepherd Neame