"You don’t want to be complacent. You always want to be ahead of the curve.” Dr. Anthony Fauci, M.D., Director of National Institute of Allergy and Infectious Diseases
As the coronavirus outbreak continues to develop, now is the time for the Retail Industry to consider response actions to help mitigate their risk and prepare for how they will deal with the fallout from the coronavirus. The Retail Industry has been hit particularly hard by the coronavirus outbeak, first as a result of social distancing and reduced retail foot traffic and more recently by government mandated mall closings and/or limitations on hours of operation and the size of public gatherings.
Retail landlords and tenants should carefully review the following sections of their leases in particular to identify the impact of the coronavirus and help mitigate risk:
In summary, it is important for the Retail Industry, both landlords and tenants, to carefully review their leases now in order to mitigate their risk of suffering negative impacts from the coronavirus.
For more information about recommended steps, please contact your Foley relationship partner. For additional web-based resources available to assist you in monitoring the spread of the coronavirus on a global basis, you may wish to visit the CDC and the World Health Organization.
Foley has created a multi-disciplinary and multi-jurisdictional team, which has prepared a wealth of topical client resources and is prepared to help our clients meet the legal and business challenges that the coronavirus outbreak is creating for stakeholders across a range of industries. Click here for Foley’s Coronavirus Resource Center to stay apprised of relevant developments, insights and resources to support your business during this challenging time. To receive this content directly in your inbox, click here and submit the form.