Headlines

COVID-19: Some Retailers to Stop Paying Rent

Brands like Subway and Mattress Firm are pushing for landlords to allow them to skip rent amid the pandemic

Published

4 years ago

March 25, 2020

VMSD Staff

Subway and Mattress Firm, among other retailers, are telling landlords they plan to reduce or withhold rent, due to temporary store closures amidst the current COVID-19 pandemic. Chains are calling for rent reductions through lease amendments, according to Bloomberg.

Some landlords across the country have heeded the call: Irvine Company Retail Properties (Irvine, Calif.) is allowing rent to be deferred for 90 days. It can then be paid back with no interest during the course of a year, beginning in January, Bloomberg reports.

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