Urban Outfitters to Skip Rent

Urban Outfitters (Philadelphia) announced it will not be paying rent and is planning to delay the opening of new stores, while current stores remain closed to combat the spread of coronavirus, reports Retail Dive. They haven’t disclosed how long they intend to skip rent payments.

The company said a “substantial number of store, wholesale and home office employees” would be furloughed for at least 60 days but will continue to receive benefits, says Retail Dive, while senior leadership will see a reduction in pay.

Other brands under the Urban Outfitters umbrella include Free People and Anthropologie.