Jolt for malls as retailers, hotels refuse to open

Large shopping malls, which have been feeling the pinch of a long lockdown, received another blow on Monday as several top retailers and restaurants refrained from opening outlets due to a deadlock over new rental agreements. While some big mall owners, such as DLF, Nexus, Phoenix and Select City, have offered to waive 50% rent, retailers have demanded a full waiver.



June 09, 2020 at 01:59AM