As stores remain closed and rents go unpaid, top executives at the real estate companies that run malls and shopping centers continue to take pay cuts.
The owner of Victoria’s Secret accused Sycamore Partners of “buyer’s remorse” in trying to back out of a deal to buy a majority stake in the struggling lingerie retailer.
Many borrowers already have drawn down much or all of their available credit line in order to have the liquidity to ride out the COVID19 pandemic. Other borrowers are contemplating doing the same.
