For retailers and restaurants opting not to pay rent to their landlords, contractual language in their lease agreements is not likely to provide much relief, according to industry sources who asked for anonymity due to the sensitive nature of negotiations.
A number of chains are struggling to pay their bills because their locations are shuttered as part of the effort to help contain the coronavirus. Rents for retailers and restaurants were due April 1, though agreements typically allow a five- to 10-day grace period.
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