As Starbucks Reopens, It Wants a Year’s Worth of Rent Relief

Although Starbucks (NASDAQ: SBUX) began opening its coffee shops earlier this month, it is asking its store landlords to cut it some slack on its rent for the next year, beginning June 1. In a letter to landlords obtained by Restaurant Business, the modifications are being sought "to support modified operations and adjustments to lease terms and base rent structures, so we can withstand this uncertainty together." According to real estate professionals quoted in the report, the request for concessions was "not well received" and considered "ridiculous" by some.