Simon Property Group are suing Gap for its failure to pay $66M in rent and other charges due. The news comes after many tenants have stopped paying rent because they have no cash flow due to the global pandemic.
Gap declared in an April public filing that it would stop paying rent for closed stores and the stance has already sparked multiple lawsuits by individual landloards in Orange County and Manhattan against the clothing retailer.
It remains unclear for just how long the company plans to continue its non-payment policy, as the company stated last month that it would reopen in eight hundred locations by the end of May.
