Bankrupt retailers play the get out of lease card
August 7, 2020
U.S. retailers filing for Chapter 11 are using the protections offered by bankruptcy proceedings to get out of long-term lease obligations with landlords. “This is now black-letter law — a debtor can cram down a landlord,” said Melanie Cyganowski, a former bankruptcy judge who’s now a partner at law firm Otterbourg PC. “If this becomes a tsunami of retailers rejecting their leases, it’s going to trigger another part of the sea change — the mortgages held by the landlords.”
Recent News
Victorinox Pioneers Bladeless Multi-Tools
Victorinox, globally recognized for its timeless Swiss Army Knife, is embarking on a new and different venture: the development of a bladeless version of its iconic multi-tool in adherence to stricter international laws.
Shopify’s Stock Plummets 19% After Earnings Report
Shopify, the Canadian e-commerce company, faced a significant drop in its stock value after releasing its first-quarter results.
Peloton Stocks Soar 14% Amidst Potential Private Equity Buyout
Peloton has been struggling since the pandemic ended. Now, it may be getting a reprieve.
Panera Halts Sales of ‘Charged Sips’ at Heart of Lawsuits
Panera’s Charged Sips allegedly caused two deaths, and now they’re being pulled from the chain’s menus.