According to Retail Dive, Nordstrom Department Store president, Jamie Nordstrom, informed its landlords that Nordstrom will restructure its lease payments by 50% for the remainder of 2020. The Nordstrom decision was reported in this article updated July 10, 2020.
Why is this Important to My Business?
There are many reports that major companies are restructuring lease payments in 2020. But few news articles reveal the actual amount that rents are being reduced. Therefore, the revelation that Nordstrom will restructure its lease payments fully by half is a useful measuring stick to all companies who need to restructure their own lease payments. Continue reading “NORDSTROM WILL RESTRUCTURE ITS LEASE PAYMENTS BY 50%”