Adidas to Pay Rent to Private German Landlords -FAZ
30 März 2020 - 12:05PM
Dow Jones News
--Adidas will continue to pay rent to private landlords but is
planning to defer payment for its corporate and institutional
landlords, Chief Executive Kasper Rorsted says in an interview with
Frankfurter Allgemeine Zeitung.
--The comments are a response to reports in the German press
over the weekend, which said the sporting goods maker would stop
paying rent for shops that are currently closed, a move enabled by
emergency government measures aimed at protecting tenants amid the
coronavirus pandemic.
--Mr. Rorsted says Adidas can do business normally in only three
countries worldwide at the moment and is otherwise selling online.
"Yes, the situation is serious," he tells the newspaper.
Full story (in German): https://bit.ly/3dGr7vd
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(END) Dow Jones Newswires
March 30, 2020 05:50 ET (09:50 GMT)
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