s0me0nesmind1
Lifer
- Nov 8, 2012
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https://la.eater.com/2020/3/25/21194144/cheesecake-factory-rent-strike-chain-restaurant
Cheesecake Factory restaurant tells landlords it won't pay rent on April 1st. Cheesecake Factory is big chain restaurant. How many little mom and pop restaurants and shops are in the same position or worse? What happened with people losing their homes after 2008 housing collapse is going to happen with commercial real estate this time. Shopping centers and building owners are going to go bust and not be able to pay their big commercial mortgage loans. If you have some money, there's going to be great opportunities to pickup some buildings or properties for the cheap in the future. And for people wanting to start a restaurant, you're going to have the opportunity of a lifetime to lease spaces super cheap with very favorable terms and buy used restaurant equipments at fraction of the price. So if you ever dreamed of starting your own restaurant, get your stuff together and get ready.
There is some validity to it, no?
You rented the place on the prospect of utilizing it for customers. If t he government says "NENER NENER NENER! No customers for you!" then why should you pay rent for it?
It isn't a matter of an uncontrolled disaster like a hurricane, wildfire, etc... It is the deliberate government telling you that you can't do precisely what you were designed to do.
It's not like they can swap them into a 4 bedroom apartment building tomorrow....