ALBANY — The owners of Crossgates Mall are suing Michael's, the popular crafting store, for over $40,000 in unpaid rent dating back to the early months of the coronavirus pandemic.
The lawsuit is just the latest attempt by commercial landlords across the country to try and recover rent money that was lost when many retailers were forced to close and curtail operations due to government lock down and business closure regulations that began in March 2020.
The Michael's store is located at Crossgates Commons, where many of the mall's big box retailers are located.
Crossgates, the largest mall in the region, was hit particularly hard as it had to close its doors to customer traffic early on in the pandemic. The company has sued several high-profits tenants, including Lord & Taylor, which closed its Crossgates store in December after filing for bankruptcy.
Attorneys for Pyramid filed the lawsuit in state supreme court in Albany. The lawsuit says Michael's didn't pay rent in either April or May of 2020.
Officials for Michael's, a national chain based in Texas, did not immediately respond to a request for comment.
It is not unusual for retailers that were forced to close by government mandate to withhold rent payments from landlords, especially since the state also put into place temporary rules blocking commercial evictions. Many retailers are also seeking to renegotiate the terms of their rent as consumers switch their shopping habits increasingly online out of health concerns.
Michael's has actually done well during the pandemic as families stuck at home have increasingly looked for creative outlets.
The company had $1.4 billion in sales during the third quarter of 2020, a 15 percent increase. Online sales more than doubled during those three months.
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February 12, 2021 at 02:02AM
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Crossgates sues Michael's craft store over unpaid rent - Times Union
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