24 April 2020 – Brainsre.news
The American firm is in talks with its landlords to negotiate the deferral and possible reduction of its rental payments.
The textile company Gap has decided to stop paying the rent in April for a significant number of its establishments because the coronavirus pandemic has forced its stores to close in many states. This decision will save the brand $ 115 million a month.
The American company, which has 2,802 stores in its local market, has explained that it is currently holding talks with its landlords to negotiate the deferral and possible reduction of its rental payments, as well as modifications to its leases.
Original Story: Brainsre.news
Translation/Summary: Carmel Drake