Landlords and Retail Tenants Compromise to Emerge Stronger Post-COVID-19, says NRF and PJ SOLOMON
With close to zero revenue coming in the door for many bricks-and-mortar retail operations during the COVID-19 stay-at-home orders, retailers and their landlords are working together to address outstanding rent obligations, the National Retail Federation and PJ SOLOMON said today.
“We started to see some encouraging signs for the retail industry with June’s positive sales growth and within the backdrop of a gradually reopening economy,” said David French, NRF’s Senior Vice President of Government Relations. “The influx of stimulus-driven consumer spending and negotiations with landlords has helped keep retailers afloat. As retailers look ahead to cover rent and other expenses in the coming months, more federal government relief is needed to ensure the industry can continue to rebound and fuel the economic recovery..."
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