Wednesday, April 15, 2020

Retailers and landlords at odds over pandemic

Chain Store Age
Retailers are finding it hard to win concessions over rent during the pandemic shutdown, while hard-pressed landlords are not eager to amend rights that allow them to collect from tenants during a health-imposed shutdown.

A report from WWD said that landlords are unlikely to back down as their financial obligations to their lenders continue to mount.

“COVID-19 has crushed commercial real estate. The retail market was slow before coronavirus, and this enhances and expedites the upcoming recession,” one broker told the publication.. . . more