Walmart waiving April rent for tenants

Predicting the demise of Sears & Kmart since 2017!
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SamSpade
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Walmart waiving April rent for tenants

Post by SamSpade »

This applies to "independent doctors of optometry" at Sam's Clubs as well.
Rent Relief

As you know, a variety of small businesses operate inside Walmart Supercenters and Sam’s Clubs – hair and nail salons, optometrists, restaurant franchises, veterinary clinics, local and regional banks. We have more than 10,000 leased spaces throughout the country.

This is a trying time for many of these establishments – just as it is for so many other businesses across America. Some have had to temporarily close or significantly reduce hours and services.

We want to help. That’s why we’re waiving rent for all Walmart property partners for the month of April, as well as for the hundreds of eye doctors who operate at Sam’s Clubs. It’s our hope that this rent relief will help these businesses financially weather the current situation and take care of their employees.

We’ll continue to monitor the need for additional support past April. We’re also working with many of our partners to encourage their impacted employees to apply for the 150,000 temporary jobs we plan to fill in the coming months.
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Re: Walmart waiving April rent for tenants

Post by storewanderer »

Given these tenants can no longer access their spaces during all of the promised hours, I suspect there may be some legal disputes and it may be cheaper for the company to just waive the rents than mess around with that kind of dispute right now. It is not like Wal Mart can do anything with the space at this point anyway. They already have a glut of square footage and empty tenant spaces in a lot of stores.

Wal Mart made the decision to close stores at 8:30 PM. Many of its tenants operated until 9 PM or 10 PM.

Still, a nice gesture.
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