Taubman Centers, one of the largest owners of malls in the United States, is demanding rent from tenants even though their properties are shuttered during the coronavirus pandemic.
International Council of Shopping Centers president Tom McGee has urged Congress to pass a recovery fund bill for businesses debilitated by the coronavirus pandemic.
With its stores temporarily closed, Urban Outfitters said it will suspend the payment of rent temporarily and delay or cancel some planned new store openings.
Tailored Brands has adopted a shareholder rights plan, or so-called poison pill, aimed at reducing the likelihood that a person or group can gain control of the retailer at its depressed share price.
With most stores closed throughout much of the United States to help stem the spread of COVID-19, retail landlords are being inundated with requests for rent relief.
The International Council of Shopping Centers is sounding the alarm as mandated closures create a growing and major threat to the continuity of cash flow between tenant, property owner and commercial lender.
