There is no playbook for what is happening in retail right now, with retailers closing their stores as businesses and governments try to slow the spread of COVID-19.
There has been many questions circulating how retailers are going to pay rents, employees, and other bills during the shut down. Urban Outfitters publicly said what many retailers are discussing behind the scenes – that they will not be paying rent. Retailers and landlords are carefully looking at their leases to see what can be done around rent abatement, delayed payments, or skipping payments all together.
Listen along as we take a deep-dive into the current status of retailers paying rent and what effects this may have on retailers and landlords moving forward.