Apple Demands UK Retail Landlords To Slash Rents By Half
Apple Inc. soared 10% Friday after a blowout earnings report, adding $171 billion to its market capitalization, making it the world's most valuable company, at $1.817 trillion (surpassing Saudi Aramco). Despite positive earnings during coronavirus lockdowns, Apple has requested UK retail store landlords to slash rent by as much as 50%.
The Sunday Times reports Apple is pushing for substantial rent reductions across 38 of its UK retail stores and asking for a "rent-free period." In return, the iPhone maker is expected to extend leases by a couple of years, something desperate landlords might have to agree too, considering the implosion of CRE.
| by Anonymous | reply 5 | August 4, 2020 5:55 PM
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You know, I'd tried to summon up a bit of sympathy for all the landlords, real estate speculators, developers of nothing but high-end McMansions and commercial space, big investors in B&B homes, and everyone else who did their best to drive small businesses and people with low or moderate incomes out of the cities, everyone in the real estate trades who's currently losing their shirt because of the pandemic.
It's not happening.
| by Anonymous | reply 1 | August 4, 2020 9:45 AM
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Will Apple give us half off their products?
| by Anonymous | reply 2 | August 4, 2020 10:09 AM
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Apple are just as rapacious and repulsive as the landlords (many of whom are insurance companies and pension funds).
| by Anonymous | reply 3 | August 4, 2020 11:52 AM
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r3
Mom, everyone knows that everything but Apple is stupid!
Eric Cartman
| by Anonymous | reply 5 | August 4, 2020 5:55 PM
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