Source - SMW
Property group Secure Income REIT said it had noted press reports that hotel chain Travelodge, which owes it rent, intended to launch a creditors voluntary arrangement.

Such arrangements, known as CVAs, allow struggling companies to pay creditors over a fixed period, allowing the company to continue trading.

Secure Income REIT said Travelodge had yet to provide details of the proposal and that it was awaiting sight of any CVA documentation.

'Once received, we will be scrutinising any proposals along with our team of expert advisors in order to best protect the company's position in determining whether or not to support any CVA proposals,' the company said.

Last month, Secure Income REIT confirmed that an outstanding quarter's rent due from Travelodge amounted to 6.4% of its annual rental income. 

At 1:17pm: (LON:SIR) Secure Income Reit PLC share price was -0.5p at 268.5p

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