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Urban Outfitters CEO Richard A. Hayne and Ralph Lauren store CEO Patrice Louvet (Credit: Getty Images)

More major retailers furlough employees, withhold rent

The retail bloodbath continued Tuesday as more major chain retailers said they would furlough employees, suspend rent and institute...

More major retailers furlough employees, withhold rent
Macy’s in Herald Square and CEO Jeff Gennette (Credit: Google Maps, D Dipasupil/FilmMagic)

Macy’s announces furloughs for “majority” of its workers

Macy’s Inc. will be furloughing most of its employees, starting this week, as Covid-19 continues to batter businesses large...

Macy’s announces furloughs for “majority” of its workers
(Credit: iStock)

NY restaurants, hotels warn of mass layoffs as US sees record jobless claims

Americans filed a record number of unemployment claims last week, and in New York state, restaurants and hotel owners...

NY restaurants, hotels warn of mass layoffs as US sees record jobless claims
The lifeline would allow the company to continue operating while it puts together a recovery plan. (Photo by Noam Galai/Getty Images)

Neiman Marcus in talks about possible bankruptcy: report

Luxury retailer Neiman Marcus Group is reportedly considering filing for bankruptcy as it struggles with $4.3 billion in debt....

Neiman Marcus in talks about possible bankruptcy: report
Robert Taubman and David Simon (Credit: Donato Sardella/Getty Images, Mireya Acierto/Getty Images, iStock)

With malls shut, what happens to Simon and Taubman’s deal?

In mid-February, Simon Property Group announced it would acquire Taubman Centers after a nearly two-decade-long dance between the two...

With malls shut, what happens to Simon and Taubman’s deal?
Subway sent its landlords a “force majeure” letter last week (Photo by Mikko Robles/NurPhoto via Getty Images)

Major US retailers tell landlords they can’t pay rent

Big chain retailers and restaurants are putting their landlords on notice. Both U.S. and international chains are informing their...

Major US retailers tell landlords they can’t pay rent
Workers board up the Time Square Sephora location (Credit: Liao Pan/China News Service via Getty Images)

NYC storefronts begin boarding up as virus empties streets

New York’s once-bustling shopping districts are starting to look like they’re bracing for a hurricane. Retailers are boarding up...

NYC storefronts begin boarding up as virus empties streets
(Credit: iStock)

Retailers tell landlords they could stop paying rent soon

Restaurants and other retailers that have seen business screech to a halt because of coronavirus shutdowns are warning their...

Retailers tell landlords they could stop paying rent soon
Scott Gerber pictured with Irvington Bar & Restaurant (Credit: iStock, Google Maps)

Hospitality company behind The Campbell, Mr. Purple lays off 400

The coronavirus pandemic has claimed the jobs of all 400 workers at the Gerber Group across its 10 venues...

Hospitality company behind The Campbell, Mr. Purple lays off 400
Nordstrom is the latest retailer to close its stores across the U.S. and Canada for two weeks to prevent the spread of COVID-19 (Credit: Jeffrey Greenberg/Universal Images Group via Getty Images)

Nordstrom shutters stores in response to coronavirus

Nordstrom is temporarily shutting its stores in the U.S. and Canada to prevent the spread of the coronavirus and...

Nordstrom shutters stores in response to coronavirus
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