Former President Donald Trump’s company takes on Marc Fisher Inc. to court.
According to Bloomberg, who obtained a copy of the case, the Trump Organization Inc. On Wednesday, a lawsuit was filed against the shoemaker in the high court in Manhattan. It claims that Marc Fisher skipped rent payments and now owes $ 1.47 million in rent due to a 2015 lease at the Trump Tower in New York City.
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Marc Fisher’s showroom covers the 21st floor and part of the 22nd floor of the mixed-use skyscraper, located in Midtown Manhattan and headquartered for the Trump organization. Bloomberg reports that the monthly rent for the space is $ 144,936, with a deposit of nearly $ 49,000.
Marc Fisher previously served as shoe license partner of Ivanka Trump, daughter of the former U.S. president and senior adviser to his government, until she closed her namesake line nearly three years ago. In his story, Bloomberg noted that from July 2019, Marc Fisher was the third largest tenant in Trump Tower after Gucci America Inc. and the Trump Organization.
FN released the Trump Organization for comment. Marc Fisher declined to comment on pending litigation as part of company policy.
At the outset of the COVID-19 pandemic, hundreds of thousands of stores, offices and other businesses had to temporarily close their doors. After that, many tenants in retailers asked to meet at the bargaining table to renegotiate rents and leases. While some retailers sought rental concessions such as deferral or reduction, others preferred to skip rental payments altogether. In response, some commercial landlords have sued tenants – including Gap Inc. and Ross Stores Inc. – lined to name a couple. In many cases, they mention the need to meet their own mortgage terms.
According to experts, many commercial leases contain a force majeure clause that actually frees both parties from certain obligations caused by circumstances beyond their control, including wars, strikes and, in some cases, pandemics and other similar unforeseen events.
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