Eight months into the pandemic, clothing stores, restaurants, gyms and other businesses find themselves in a $52 billion hole.
That’s the total amount of retail rent that’s been missed since April, according to CoStar Group Inc. While some of the overhang has since been paid back, the remainder will be a drag on merchants as they try to rebuild and landlords demand their money. In some cases, the unpaid balances could drive them into bankruptcy.
