Kolkata retailers urge malls to waive rent

While retailers are relentlessly writing to malls to waive off rentals for the days that they could not operate, malls are unwilling to comply, both quoting different interpretations of the Force Majeure clause, which literally means an act of God. Big retail brands like Shoppers Stop and Pantaloons and even multiplex chains like Inox have appealed to mall owners for waivers. Among the malls that have received such requests are South City, Acropolis, Mani Square, City Centres 1 and 2 and Quest. No decision has yet been taken though malls have verbally communicated to retail partners that such waivers are not possible. While all malls have raised bills for March, most are yet to raise their bills for April as series of meetings and negotiations are on. Acropolis Mall has already raised the bill for April too.