H&M Sued for $4M in Unpaid Rent at Herald Square Flagship
Herrick partner, Scott E. Mollen was quoted in Crain's New York Business discussing a lawsuit filed against retailer H&M for failure to pay rent on its flagship store in New York during the COVID pandemic. As the courts continue to re-open for filings, other landlords have begun to file similar lawsuits against other retail tenants. Attorneys have suggested that most disputes of this kind are being handled internally through negotiating concessions or new payment terms. "Commercial tenants don't want to risk losing their leases, and landlords don't want to risk vacant space," said Mollen. "Everyone has an incentive to work things out."