A Disney Springs retailer is reportedly suing Disney over an early lease termination. According to Florida Politics, Superdry is claiming that Disney wants to kick them out of their retail store because they haven't made enough money during the pandemic.
What's Happening:
- Superdry, which is based in the United Kingdom, said that Disney's landlord gave notice in October that it was terminating their store lease early as they struggled without a return of international tourists to Orlando.
- The letter apparently said "A representative of the landlord will be in contact with you to discuss the orderly winding down of operations and vacate the premises."
- However, while the lease was set to expire this week, the store remains open for business.
- Attorneys for both Superdry and Disney did not immediately return Florida Politics’ messages for a comment.
- This is the latest lawsuit to come out of the pandemic in Orlando, where tourism was hit hard and is still recovering.
- The Orange County court suit filed in late March revealed how much sales have dipped more than 40% for stores that cater to international customers.
- Since Superdry opened in Disney Springs, they "generated receipts of between $3.05 million and $3.50 million annually" from July 2016 through June 2019 according to the lawsuit, although they admit that situations changed with the arrival of the pandemic.
- When the stay-at-home order was put into place in 2020, all stores at Disney Springs had to shut down for the time being.
- "Tenant was slowly bouncing back from the uncontrollable effects of the COVID pandemic toward the end of the fifth lease year," the lawsuit said. "While international tourism has recently begun to resume, it is far from pre-pandemic levels."
- Superdry had to sign a lease that gave both Superdry and Disney the option of terminating a lease early after five years if the store's gross fell below $4.2 million.
- According to the lawsuit, the store’s gross receipts were $1.75 million from July 2020 to June 2021.
- Superdry mentioned that it had spent "significant funds" in building the store that it had expected to be at Disney Springs until at least 2026, when the current lease was set to expire.