Victoria's Secret sues landlord SL Green to break Herald Square lease - Business Insider

Victoria's Secret is seeking to tear up one of its largest and most expensive retail leases, using the Covid-19 crisis as a legal justification to break from the obligation.Beleaguered lingerie brand Victoria's Secret is suing its landlord to break from a $10 million lease commitment for a flagship store it has long operated in Herald Square.

Parent company L Brands also recently agreed to scrap a $525 million deal to sell a majority stake in Victoria's Secret to Sycamore Capital Partners. A summons of notice is a filing that precedes a more detailed complaint — and was interpreted by some observers as a way to threaten to sue without committing to costly litigation in an effort to negotiate with its landlord at the location, the real estate investment trust SL Green. An attorney for SL Green stated that negotiations between the two parties previous to the filing had been unfruitful.

The effort to cancel the lease at 2 Herald Square shows the fading allure of what were once flagship urban retail locations in the wake of the pandemic as questions linger when — and even if — commerce will return to normalcy even in bustling economic centers like Manhattan. Neiman Marcus just filed for bankruptcy, and it could mark a major blow to NYC's glitzy Hudson Yards — one of the most expensive mega-malls in US history. Here's why.

Seigel said he could not comment specifically on the Victoria's Secret space in Herald Square and was not familiar with the specifics of the situation.

So sad... How will Jewish mafia finance children trafficking operations?

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Inside the Boeing Business Jet 787 Dreamliner's most luxurious designs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 1929 much? GTFOOH
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

The Internet of Medical Things report - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Republicans sue California Gov. Newsom over mail-in voting - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Cause republicans only win when they cheat and suppress vote. Oregon does it for many years. Well thats pretty dumb
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Alt data shop SimilarWeb breaks down industries' pandemic web traffic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

50 insiders reveal all on a massive shakeup at elite law firm Boies Schiller - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »