In recent years, company voluntary arrangements (CVAs) have been used to restructure the leases of struggling retailers and restaurants. Under United Kingdom insolvency law, a CVA is a legally binding agreement between a company that is either insolvent or has … Continue reading →
The Amazon Go concept uses cameras and sensors to track everything that customers put into their bags or shopping carts, according to a company promotional video. Customers enter by scanning a smartphone app and the items they take are charged … Continue reading →
A material adverse event clause in a contract addresses the possibility of the occurrence of an unexpected change in circumstances (sometimes termed an “act of God”) that could significantly reduce the value of a company or cause a decline in … Continue reading →
According to CNBC (citing data and research from UBS), there are nine malls per one million households in the U.S. – up from eight malls per one million in 1980. Taking into consideration the the overall shift in One of … Continue reading →
J.C. Penney Company Inc. is in discussions Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. This surgical process keeps generic vs viagra check out for info the organ firm but bendable that it can react … Continue reading →
Average retail asking rents in New York fell for the tenth consecutive quarter to $714/sf during Q1–2020 – a nine percent decline year-over-year, according to CNBC (citing data from CBRE). Retail rents in Times Square dropped by 15.7 percent from … Continue reading →
Macy’s Inc. has retained investment bank Lazard and debt restructuring lawyers at Kirkland & Ellis LLP to explore options for bolstering its finances and managing its liabilities, according to CNBC. The company, which comprises three retail brands (Macy’s, Bloomingdale’s and … Continue reading →
Home furnishings chain Pier 1 Imports Inc. filed for Chapter 11 bankruptcy protection on February 17. In connection with the Chapter 11 filing, the Texas-based company received a commitment of approximately $256 million in debtor-in-possession financing from Bank of America … Continue reading →
A co-tenancy clause in a retail lease offers the tenant remedies such as rent reduction and/or lease termination if either a certain percentage of the gross leasable area (or otherwise specified area) of the shopping center fails to remain open … Continue reading →
Vancouver-based athletic apparel company Lululemon opened its first restaurant today in Chicago’s Lincoln Park neighborhood (944 W. North Avenue). Named “Fuel”, the restaurant is part of a 20,000sf store (the retailer’s largest) which also offers men’s and women’s merchandise and … Continue reading →