Case Study: Balls Brothers
RENT REDUCTIONS
It’s widely known that the City of London experienced a great downturn in trading due to the banking crisis and credit crunch at the end of 2008. This led to an overall reduction in turnovers of between 15- 30%. The impact to companies trading in the City has been substantial and operators have been seeking cost cuts across the board.
Rent Reform have represented Balls Brothers and successfully negotiated with the majority of their landlords to agree rent reductions during the course of 2010 in excess of £500,000. This has given the company great assistance at a time when it needed it most and will allow the company to adjust to the current market and sustain itself for the future.
The Balls Brothers’ case is a typical example of a company that has been operational for many decades but were caught with a short term problem relating directly to the current recession. They were a genuine case where the reductions have greatly assisted their cash flow position.