Approximately 60% of retailers reported that they could not pay April rent, with many asking for three months of rent abatement—and several claimed they could not pay rent until stores reopened.
CBL & Associates, which owns 108 properties, has serious doubts about its future amid skipped rent payments from retail tenants due to the COVID-19 pandemic.
Private equity firm Sycamore Partners is in early talks to take J.C. Penney out of bankruptcy if the retailer’s negotiations with its creditors fail, reported Reuters.
C&S Wholesale Grocers is teaming up with Instacart to make online and same-day delivery available to C&S’ network of more than 3,000 independent grocery retailers across the U.S.