Former President Donald Trump’s company is reportedly taking Marc Fisher Inc. to court.
According to Bloomberg, which obtained a copy of the lawsuit, Trump Organization Inc. filed a lawsuit against the shoemaker on Wednesday at the Manhattan Supreme Court. He claimed that Marc Fisher ignored the rent payment and now owes $ 1.47 million in rent over a 2015 rent at Trump Tower in New York City.
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Marc Fisher’s showroom occupied the 21st floor and part of the 22nd floor in the mixed-use skyscraper, which is located in midtown Manhattan and serves as the headquarters of the Trump Organization. Bloomberg reported that the monthly rent for the space was $ 144,936, with a security deposit of almost $ 49,000.
Marc Fisher previously served as a shoe licensing partner for Ivanka Trump, daughter of the former United States president and senior advisor to his administration, until she ended her eponymous line nearly three years ago. In its history, Bloomberg noted that Marc Fisher was Trump Tower’s third largest tenant, after Gucci America Inc. and Trump Organization in July 2019.
FN contacted the Trump Organization for comment. Marc Fisher declined to comment on pending litigation as part of company policy.
At the beginning of the COVID-19 pandemic, hundreds of thousands of stores, offices and other businesses were forced to temporarily close their doors for weeks. Subsequently, many retail tenants asked commercial property owners to meet at the negotiating table to renegotiate rents and leases. While some retailers were looking for lease concessions, such as postponements or rebates, others chose to skip the rental payment altogether. In response, some business owners have filed lawsuits against tenants – including Gap Inc. and Ross Stores Inc., to name a few – citing, in many cases, the need to comply with their own mortgage terms.
According to experts, many commercial leases contain a force majeure clause, which essentially exempts both parties from certain obligations caused by circumstances beyond their control, including wars, strikes and, in some cases, pandemics and other similar unforeseen events.
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