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Prepare For A Lot Of Empty Storefronts, As If We Didn't Have Enough Of Those Already
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Some of the major retail and restaurant chains, including Subway, are telling their landlords that they're not going to pay their rent in the next few months because, well, you know. Also, those chains have been looking for ways to cut their rent payments, so this is convenient. On the other side, the landlords may not be eager to cut rents for struggling brick-and-mortar businesses, but on the other hand, it's not like other businesses are queuing up to take their place. The market isn't quite in sync at the moment. Will it ever recover? (Bloomberg via Los Angeles Times)
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