Stachenfeld Leasing Practice News Today : Breaking News, Live Updates & Top Stories | Vimarsana

 
UPDATED, Feb. 5 2021, 3:55 p.m.: It’s been nearly a year since the start of the pandemic and for some retailers, that means it’s been nearly a year since they’ve paid rent.
Take L’Occitane, the French beauty brand. On March 25, 2020, the company told one of its landlords, Simon Property Group, that it would stop paying rent at its locations for “as long as the crisis continues,” starting in April. It then halted rent payments at 40 of its stores.
As a result, L’Occitane owes the mall landlord $3.7 million. Now, Simon is taking its tenant to court: The landlord filed a complaint last week in New York State Supreme Court, threatening legal action if L’Occitane doesn’t pay. ....

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