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After Store Closings and Furloughs, Are Rent Holidays Next?

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Retailers have been canceling purchase orders because they no longer need as much inventory with stores that are closed indefinitely, and now they’re scrutinizing other components making up their financial obligations like rent and vendor-payment terms. On Tuesday, millennial-friendly Urban Outfitters Inc. said it will “suspend the payment of rent temporarily,” and will pause or…

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