The Pandemic Is Decimating the Restaurant Industry. Some Landlords Aren’t Budging.

As soon as Ted Hopson, chef and co-owner of the Bellwether in Studio City, California, heard the governor talking about coronavirus in early March, he knew it would be bad for business. On March 16, Hopson sat down and emailed his landlord. Business was down, he wrote. “We are hoping you would be willing to work with us, maybe defer our rent to a later date, since we have zero income right now.” Two days later he got a response in the form of an official letter included in an email attachment.

The Portland Hunt + Alpine Club in Portland, Maine closed on March 16, two days before the official order came from the government: The cocktail bar is only 2,500 square feet and was designed to fit roughly 60 customers close together; social distancing was out of the question. Staff was able to apply for unemployment before the remainder of the restaurant industry, says Andrew Volk, who owns the restaurant with his wife.

Luckily for Button, on April 9, WPPM came up with a plan for its restaurant tenants: total rent abatement for May, and in June, WPPM would allow each tenant’s security deposit to cover their rents — with the understanding that the latter would eventually be repaid. Many other landlords are simply offering momentary relief. Nick Cho, founder of Wrecking Ball Coffee, says all three of his landlords gave him a variation of “pay 50 percent now with the balance due either next year” or at “some unknown future date,” as one landlord wrote in an email Cho shared with Eater. “The fundamental idea is that eventually we will pay 100 percent of our rent,” Cho says. Landlords may not get paid now, but eventually they’ll be made whole.

1/ The sad part is legally they don’t have to you would think they’d want it a business I had been there to stay there but some down. We have sub leased a kitchen in that business is going under because of this I reached out to the landlord & he refused to even talk to me unless

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Experts say restaurant owners need to do 7 things to boost sales - Business InsiderRestaurants have been hit hard by the pandemic. Here's how restaurant owners can give their businesses a fighting chance of making it out alive.
Source: BusinessInsider - 🏆 729. / 51 Read more »