Bewley's judgement won't stop slaughter of the high street
It is clear that the ruling will not be a game-changer for Irish retailers struggling to stay afloat, writes Jerome Reilly
The slaughter on the high street with retail and wholesale outlets going to the wall at a rate of one every two days will continue – despite last week's important High Court judgement in the Bewley's cafe upward-only rent case.
Though it now looks increasingly likely the judgement will be appealed to the Supreme Court, last week's case will not be a cure-all for the upward-only rents crisis – whatever the outcome of further litigation.
The successful case taken by the company behind the iconic Dublin city cafe against landlord Johnny Ronan's Ickendel Ltd, now under the control of Nama, is not a "game-changer" that will lead to widescale reduction for retail business till paying Celtic-Tiger era rents, according to legal experts.