U.S. Retailers Plan to Stop Paying Rent to Offset Virus
- Subway, Mattress Firm among chains pushing for rent relief
- Battle between landlords and tenants will only get messier
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Major U.S. retail and restaurant chains, including Mattress Firm and Subway, are telling landlords they will withhold or slash rent in the coming months after closing stores to slow the coronavirus, according to people familiar with the situation.
In a brewing fight, chains are calling for rent reductions through lease amendments and other measures starting in April, said the people, who asked not to be named because the discussions are private.