Jun 3, 2020
Travelodge proposes new deal to end landlord row
Budget hotel business Travelodge is to propose a new restructuring plan that it hopes will end a row with landlords and protect thousands of jobs. Travelodge is due to file for a limited form of bankruptcy - a company voluntary arrangement - on Wednesday that would allow it to force through rent cuts if necessary. The company is not planning hotel closures, and has said it will start paying full rent again from the end of next year. Like most hotels, Travelodge has suffered amid the coronavirus lockdown as holidays, events and business trips are cancelled. The company has come under fire from landlords, according to Sky News, which first reported the Company Voluntary Arrangement deal.
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