Lacoste is Attempting To Renegotiate Its Real Estate Leases In the United States

As an Amazon Associate, I earn from qualifying purchases. In addition, I may earn commissions from other affiliate programs when you click on a link to an online store.

Lacoste Store WindowAccording to the Real Deal which covers New York City real estate issue, Lacoste is attempting to renegotiate its retail leases in the United States:

Earlier this month, Lacoste USA’s chief financial officer Karine Sansot-Vincent sent a letter to its landlords announcing that it would seek to renegotiate leases as reducing costs would be “vital” to its “ability to be a viable company in the future.”

The letter, seen by The Real Deal, notes that the company has retained restructuring counsel at law firm Arent Fox and real estate advisory firm Keen-Summit Capital Partners to lead the restructuring of its leases with landlords across the country.

In the letter, Sansot-Vincent wrote that due to Covid-19 closures, “The existing retail business model is no longer sustainable. The essential purpose of our retail leases has been totally frustrated.”

Read more at the Real Deal.