THE WHAT? Bath & Body Works has appealed to the courts to help extricate it from a New York lease, according to a report published by Commercial Observer.
THE DETAILS The US retailer is arguing that Andrew Cuomo’s lockdown, which forced non essential retailers to shutter stores, renders the lease unenforceable.
Bath & Body Works has also asked for all rent payments from March 22 to be dismissed.
In a statement, the landlord’s lawyer, Stephen Meister, accused the L Brands-owned chain, of ‘exploiting the current health and economic crisis for its own financial gain’.
THE WHY? With stores forcibly closed, sales have plummeted over the last three months leaving several non-essential retailers struggling to maintain cash flow. Presumably, L Brands is hoping to ease the pressure by slashing its rent bill.