Friday, October 23, 2020
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Shopping Centres Face Almost One Hundred Claims to Extend Their Moratoriums

83 tenants, grouped together under the Platform for People Affected by Covid-19 (PAC), want to take to court the owners of retail complexes, such as Merlin, Unibail, Castellana Properties and Klépierre, amongst others.

Small and medium-sized operators have been one of the groups most affected by the economic crisis in which the world is immersed as a result of coronavirus. In April, in Spain, this group asked the owners of shopping centres to share the impact of the pandemic with a reduction of up to 50% in rents until the first quarter of 2021.

Since then, most of the owners of these establishments have agreed to their tenants’ demands with some reductions in rents and even rent waivers during the State of Emergency. However, as uncertainty continues to prevail and with future lockdowns forecast, some operators now consider that these agreements are not enough.

Read the full article in Spanish.

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