Covid-19 disruption: Tenants continue to grapple with mall rental agreements

Malls may have opened their doors to customers across the country, but many stores on their premises remain shut as developers spar with retailers on rental agreements. With the 70-day lockdown having dealt a body blow to retailers who saw their businesses collapse, they have been asking mall developers to waive off rent for April and May as well as ink revenue share deals, going forward.

Fast-food chain Taco Bell, which has most of its outlets in malls in Delhi-NCR, Bengaluru, Cochin, Kolkata and Mumbai, is yet to open its restaurants.

“In the light of this new normal, we have reached out to all our landlords across malls…and as and when we are able to reach a mutually beneficial solution, we will open our doors to our customers,” said Rahul Sharma, assistant vice president – Business Development & Licensing, Burman Hospitality Pvt Ltd, the master franchise partner for Taco Bell in India. He did not specify the details of his demands from malls.

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