More than 85% of London-based hospitality operators do not consider their existing or new leasing agreements with landlords to be good enough to help them survive trading restrictions, according to research from Cedar Green.

In addition, 69% of the 230 firms surveyed said they were being forced to explore restructuring or insolvency options, while 38% of respondents reported that they had managed to agree new terms with the majority of their landlords.

“Many landlords still need to get their heads out of the sand and recognise that Covid-19 has changed the game for the long term. This isn’t a 6-12 month issue,” David Abramson, chief executive of Cedar Dean, said.