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COVID-19: Some Retailers to Stop Paying Rent

Brands like Subway and Mattress Firm are pushing for landlords to allow them to skip rent amid the pandemic

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Subway and Mattress Firm, among other retailers, are telling landlords they plan to reduce or withhold rent, due to temporary store closures amidst the current COVID-19 pandemic. Chains are calling for rent reductions through lease amendments, according to Bloomberg.

Some landlords across the country have heeded the call: Irvine Company Retail Properties (Irvine, Calif.) is allowing rent to be deferred for 90 days. It can then be paid back with no interest during the course of a year, beginning in January, Bloomberg reports.

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