NRA CEO Dominique Lamb said that the ruling is timely as the sector braces for another economic hit following the reintroduction of business restrictions in Victoria and nervousness over infections rising in other parts of the country.
“Retailers across Australia have been hit hard by the COVID-19 wrecking ball. Many businesses have struggled and the situation in Victoria demonstrates that both the health and economic struggle is far from over,” Ms Lamb said.
“The ACCC authorisation grants NRA members the ability to share information with each other and to collectively bargain with respect to their leases until September 1, 2021.
“Improving the quality of information accessible to both landlords and tenants will result in more productive negotiations and ultimately more effective outcomes for the respective parties.
“NRA members, particularly in Victoria, are in desperate need of help following the introduction of Stage 4 restrictions, while retailers across the rest of the country are nervous about a second-wave knocking over their business.
“The bottom-line is that retailers will continue to need assistance for the foreseeable future and we welcome the ACCC granting these rent relief measures until September 2021.”
Information regarding the NRA’s application and the ACCC ruling can be found here.