Legal Question in Business Law in Georgia

Breaking a retail shopping center lease

We own 2 retail stores, one of our stores has a 7 yr lease with 2 yr remaining. This store has been a big financial burden, we have aquired a large amount of debt keeping this store open as well as building inventory in our 2nd location. We do not want to file bankruptcy. If we can take our displays and inventory from store #1 and put it into store #2 we feel we can probably start the climb out of debt. Are there any ways to get out of a lease without jepordising our home and our 2nd location. Or because we went into this center when it was new we are paying prime $ per sq ft, anyone coming in at this time is paying much less since this center is having problems keeping tenants. We've been told when our lease is up we can renegotiate the lease, is there any possibility we can get this lease renegotiated before.


Asked on 2/26/08, 7:57 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Breaking a retail shopping center lease

The lease itself sets forth your agreement, and whether or not you can get out of it or reduce the rent. Whether the landlord will renegotiate now is a question that should be directed to them. It does not hurt to ask, but if they have no incentive to do so, they may not be interested.

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Answered on 2/26/08, 8:26 pm
SHERRY RAGOLE RAGOLE & ASSOCIATES, LLC

Re: Breaking a retail shopping center lease

Your question is outside the scope of tis forum. An attorney will need to review pertinent documents and discuss other factors with you in order to determine what options may be available to you. Moreover, an attorney could act as a third party for you in attempting to renegotiate more favorable lease terms for you.

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Answered on 2/26/08, 8:36 pm


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