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Monday, January 13, 2025 | 02:47 AM ISTEN Hindi

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Mall owners, retailers fail to agree over contentious issues amid lockdown

Developers, such as DLF and Phoenix Mills, say the force majeure clause, which retailers have indicated they would apply, in case there was a complete breakdown in talks

Coronavirus spread: Retailers, multiplexes, mall owners spar over rentals
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The lockdown, announced by the Modi government, is slated to end on April 14. But given the rising number of Covid-19 cases in the country, some individual states may extend the lockdown.

Raghavendra KamathViveat Susan Pinto Mumbai
Mall developers and retailers are yet to find common ground on the contentious issue of rental waivers, with the differences coming at a time when the retail industry, barring grocery, has come to a halt because of the 21-day nationwide lockdown.
 
Developers, such as DLF and Phoenix Mills, say the force majeure clause, which retailers have indicated they would apply, in case there was a complete breakdown in talks, does not apply to the lockdown period. "We will have to work with retailers (on the issue of rentals). We can take a call only after visibility regarding mall openings emerge,"

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