Jonathan Dobkin discusses the impact of TGJones on landlords in Property Week
Jonathan’s comments were published in Property Week, 18 June 2026, and can be seen here.
Jonathan Dobkin, Partner in our Commercial Property team, examines how the proposed TGJones restructuring plan could mark a pivotal moment for the UK restructuring landscape.
Jonathan explains that the case centres on an unusually aggressive restructuring proposal, which includes widespread store closures, significant rent reductions, and rent-free periods of up to three years. He notes that these measures would place a substantial financial burden on landlords, particularly larger property owners facing steep cuts to income.
He highlights that, while courts have increasingly supported restructuring plans through mechanisms such as cross-class cramdowns, binding dissenting creditors to agreed terms this case may test the limits of how far such powers can be used. The outcome could either reinforce the current trend of prioritising business rescue or signal a shift towards greater scrutiny and fairness for landlords.
Jonathan also observes that, from a property investment perspective, the impact of these proposals can be challenging, particularly where landlords believe properties could be re-let on market terms. However, in weaker locations or uncertain economic conditions, some landlords may still prefer a compromised arrangement over the risk of vacant premises.
Ultimately, Jonathan suggests that the court’s decision will be closely watched across the sector, as it may redefine the balance between supporting struggling businesses and protecting landlord interests in future restructuring cases.
Read the full article on the Property Week website [subscription required]