The face-off between India’s largest fine-dine restaurant brands and land owners over rental discounts, moratoriums and security refunds has intensified, with close to 150 restaurant companies collectively signing undertakings that they will not occupy each other’s premises without obtaining no objection certificates (NOC)s from vacating tenants either directly or through their landlords.Some leading names which have joined forces on this include Lord of the Drinks, Warehouse Cafe, Social, Indigo, Smokehouse Deli, Mamagoto, Indigo and Tote on the Turf.“Some of us have neither been given moratoriums nor any discounts on rentals, while many of us who have vacated premises have not been given back security deposits. Landlords are trying to swap locations which have been established by a brand to others but we stand in solidarity,” said First Fiddle chief executive Priyank Sukhija, owner of Lord of the Drinks and Warehouse Cafe.Industry executives said commercials of the pre-covid era cannot remain a relevant benchmark and that the pledge is aimed at ensuring that landlords who use “pressure tactics such as non-refund, deduction of deposits and the court cases” are dealt with collectively.Anurag Katriar, chief executive of DeGustibus Hospitality which operates Indigo Deli, Neel and Tote on the Turf, said the move… Read full this story
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