PRINCETON,NJ—Chapter 11 bankruptcy filings are afoot in the retailsector and are expected to continue for the next few years, butvacancies can provide opportunities for the use of rental space.Sports Authority, PacSun, Aeropostale, EMS and Fairway Market arejust a few recent examples of big retailers who have filed forChapter 11 bankruptcy protection during the past year. Landlordscan maximize value by understanding how to manage and leverage thelease in a bankruptcy.
Indicators of a bankruptcy filing are non-payment of rent,inventory pile-ups, missing key financing deadlines, and evenfailure to attend leasing meetings. Calling a default, and/orfiling an eviction action may bring the lease current prior to abankruptcy filing.
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