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Gap stopped paying rent. https://t.co/3BrBopyH6L
— Eddy Elfenbein (@EddyElfenbein) April 23, 2020
Lots of important nuggets in Gap's 8K filing this am: $GPS warns it might not have enough $ to operate. It didn't pay rent in April, which comes out to ~$115 million in monthly rent expense in North America. That could result in litigation with landlords- https://t.co/4eCiq9TbEV
— Lauren Thomas (@laurenthomas) April 23, 2020
Bullish! Good thing there is no leverage in CRE.
— Jackson- society is broken (Deflation truther) (@JacksonStewal) April 23, 2020
Gap stops paying rents, warns it might not have enough cash https://t.co/w8elkcZK6i
?? Gap warns it might not have enough cash for operations, as it stops paying rent https://t.co/vC1vbSan8y
— Neil Saunders (@NeilRetail) April 23, 2020
holy s*it. GAP stopped paying rent April 1. https://t.co/cjcHKFBDK6
— Greg Pollowitz (@GPollowitz) April 23, 2020
Gap warned it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread shutdowns that have crippled the business of clothing retailers globally https://t.co/TqColVLUIX https://t.co/9mJw49ZOAx
— Reuters (@Reuters) April 23, 2020
Retail was already a troubled industry. Coronavirus could be back-breaking https://t.co/ySiCbn7wOI @Shwanika
— Roland Li (@rolandlisf) April 23, 2020
Gap Inc. stopped paying rent this month for closed stores in the U.S. and Canada, claiming it is running out of money amid the #coronavirus pandemic.https://t.co/XgE2SVK5QQ
— San Francisco Chronicle (@sfchronicle) April 23, 2020
Coronavirus: Gap Inc. stops paying rent and is running out of money to operate https://t.co/OFIrA0mZaE
— ≡l≡v≡nth (@3L3V3NTH) April 23, 2020
Gap Inc. stops paying rent and is running out of money to operate https://t.co/52Cygtrl5y
— Shelby Grad (@shelbygrad) April 23, 2020
Gap Inc. is rapidly burning through cash as its stores remain shut during the coronavirus pandemic. The clothing company said its future is uncertain if it doesn't get the help it needs to keep its business operational. https://t.co/YeiS0zrCJv
— CNN International (@cnni) April 23, 2020
With its stores shuttered, Gap issued a dire warning: It may not have enough cash to survive the next 12 months https://t.co/fbb0Uz5c3I https://t.co/KX2CPKpnGJ
— Reuters (@Reuters) April 24, 2020
If the Fisher family-- owners of the Gap, Old Navy, Banana Republic and other companies, one of the biggest collectors of contemporary art in the world, wealthiest families in the Bay Area-- can just stop paying their rent, probably we should too https://t.co/3df1raIwUW
— AntiDisplacementCoup (@AsterZephyrIsis) April 23, 2020