Times Square Old Navy to reopen after losing legal fight over rent

Shoppers will be able to return to a Times Square Old Navy store after waging a legal battle over the rent that ended in a victory for the landlord. The 31,000-square-foot store was shuttered in 2020 as the pandemic emptied the normally bustling district. Gap, which owns Old Navy, seized the opportunity to fight against paying rent in court but a judge decided in favor of the landlord — twice. The parent company and its

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Gap ordered to pay millions in back rent at Times Square flagship

A judge ordered the Gap and its Old Navy subsidiary to pay millions of dollars in back rent at the Times Square flagship, rejecting claims that Covid closures meant the retailers were no longer bound by the lease deal. Last month, State Supreme Court Judge Debra James directed the apparel giant to release a $5.8 million bond secured with the court to the landlord, a family business now managed by Charles Moss III. The landlord

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Gap settles Midtown rent dispute with Axel Stawski

 Following a battle over unpaid rent at its Midtown Manhattan location, Gap has reached a settlement with the landlord. The apparel brand had withheld $530,334 in charges — including water and snow removal fees — incurred by its 1212 Sixth Avenue store, according to a complaint filed in the Southern District of New York by the landlord, an LLC registered to under-the-radar real estate mogul Axel Stawski of Manhattan-based Stawski Partners. In its response to

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Banana Republic to close Upper East Side store

Banana Republic is closing its store at 1529 3rd Avenue, a new filing indicates. The retailer filed a notice alerting the state Department of Labor of the closing, which will occur Jan. 31. Some 62 employees will lose their jobs. The filings cite economic reasons as the cause of the dislocation. Earlier this year, Banana Republic’s parent company Gap announced that it will close 350 of its stores — 220 of its namesake Gap shops,

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Want To Be The Next Amazon? Go Cross-Border From Day One

 The business of e-commerce is still mostly a national affair. U.S. consumers order from U.S. retailers like Amazon, Gap and Walmart; Chinese consumers buy from Chinese sites such as Tmall, Taobao and JD.com; and Indian consumers flock to Flipkart…