Find in the news:
BY COUNTRY

Starbucks asks for 12 months without rental charges



A global chain of coffee shops has sent a letter to their landlords asking them to provide a 12-month payment holiday.
Starbucks

The world's largest coffee chain Starbucks has sent a letter to its landlords with a request to provide a 12-month payment holiday, starting from June 1, 2020. The company notes that the concession is necessary to support the new environmental movement "together to withstand this uncertainty" in the face of the crisis. 

U.S. retail space owners received a letter from Starbucks, signed by the company's chief operating officer, Ros Brewer, the day after the coffee giant began opening its outlets in the country. The company's sales plummeted in recent months as stores closed worldwide. 

The company is currently negotiating with landlords in various markets in order to reach concession agreements under its current conditions, said Starbucks CFO, Patrick Griesmer. 

The company manages 8,800 of its own and 6,250 partner coffee shops in the United States. Since the end of March, more than half of the establishments have been closed. In the coffee shops, which continued to operate in April, sales fell by 25% in the same period. Thus, the total losses of Starbucks are estimated at 75% of last year's level, writes Restaurant Business. 

The company expects to reopen more than 90% of its outlets by early June, including through contactless delivery, online ordering, and other services, according to the company's website. Market participants who received a request for rental holidays for a year called it "ridiculous". Many of the property owners are investors loaned to banks who cannot provide discounts on the rent due to the threat of their own ruin. 

More about shopping malls in the USA



Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Dec 21, 2023, Mexico:
Luxury French fashion house Zadig & Voltaire has unveiled its boutique in Mexico City.
Friend
and Follow
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
South Coast Plaza GLA:2 800 000 SF
ADDRESS: 3333 Bristol St, Costa Mesa, CA 92626
USA . Los Angeles
South Coast Plaza
Greenwood Park Mall GLA:1 164 000 SF
ADDRESS: 1251 US Highway 31 N, Greenwood, IN 46142-4514
USA . Greenwood
Greenwood Park Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us