J. Crew said it was bankrupt. Then its landlords forked over $130M

Bankrupt retailer J. Crew is saving $130 million in rent. The retailer, which has 492 stores including Madewell and outlet locations, has negotiated about $70 million in concessions this year and about $60 million next year from its landlords, according to Retail Dive. That includes waivers and rent deferrals, as long as sales are in line with projections. J. Crew had sought to exit leases through its bankruptcy proceedings, which began in May. Before it

source https://therealdeal.com/2020/08/10/j-crew-said-it-was-bankrupt-then-its-landlords-forked-over-130m/