Monday, June 8, 2020

Can’t Pay, Won’t Pay: Why June Rent Payments Are The Next Big Challenge Facing Retail

Forbes
The relationship between retailers and their (mainly) institutional landlords has always been one characterised by strained relationships and confrontation. Upward only rent reviews for years and years might have something to do with that. They are both gripped in a deadly embrace which is just about to get a whole lot tighter.

A spirit of collaboration could not be further from the truth. And the next bump in the road is looming rapidly. Because just nine days after non-essential reopens, on June 24 the next quarterly rent payments will be due. And guess what? Many are unlikely to pay. You just know that this isn't going to end well.. . . more