Monday, December 11, 2017

Retail landlords flex muscle as stores close, and Starbucks, Whole Foods emerge as losers

Image result for 365 by whole foods marketStarbucks and Amazon-owned Whole Foods are the latest victims of retail landlords pushing back against companies shuttering stores and trying to bypass contractual agreements.

Recently, the largest U.S. mall owner, Simon Property Group, claimed a high-profile victory in court over Starbucks, which was planning to close 77 of its Teavana stores across Simon's properties. Starbucks previously announced this summer it was planning to shutter all Teavana locations by the spring of 2018, as they were dragging down Starbucks' overall financial performance.. . . more

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