$TLRD FYI I’m not convinced that the slow rate of stores reopening is a bad thing. They are likely waiting to see what retail looks like before committing to bringing people out of furlough, and I’m also wondering if their much-needed store rationalization might have just dropped out of the sky for them. Keep in mind that those consulting costs they paid went largely to figuring out which of their stores are worth keeping based on expected projections. Though I am not an attorney, I’m very familiar with the nightmare that is New York City’s renting landscape, and issues like habitability/suitability can be grounds for breaking a lease. TLRD might be using Covid as an opportunity to bail from locations where they think they can get away with minimal costs/penalties.
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