Tech

Coronavirus: Media Markt and Saturn stop rent payments

For the time being, electronics retailers Media Markt and Saturn no longer want to pay rents for their closed markets. "Like many other brick-and-mortar retailers, Media Markt / Saturn will, as a precaution, suspend rental payments for all currently closed markets in April 2020"said a company spokeswoman on March 30, 2020 at the request of Golem.de, adding: "We are in close contact with the landlords concerned and are therefore confident that we will find a mutually beneficial dialogue with the landlords to find a solution that is good and sustainable for all sides and that will do justice to this difficult situation."

Job market

  1. University Hospital Frankfurt, Frankfurt
  2. BIM Berliner Immobilienmanagement GmbH, Berlin



Last weekend had become knownthat, among other things, the sporting goods manufacturer Adidas and the shoe retailer Deichmann do not want to pay rent for their branches for the time being. Last week, the Bundestag and Bundesrat decided that landlords' right of termination in the event of a failure to pay rent to be restricted during the corona crisis. According to the law (PDF) the landlord can "do not terminate a lease on land or space solely on the grounds that the tenant does not pay the rent in the period from April 1, 2020 to June 30, 2020 despite the due date, provided the non-performance is based on the effects of the Covid 19 pandemic ".

Collection is still possible

Despite the lack of rent payments, Media Markt and Saturn want to continue to use their stores to deliver goods. "We offer our customers – but not at all locations – the option of collecting goods ordered and paid for online directly from their local Media Markt and Saturn stores at special pick-up stations"said the spokeswoman. The customer will find out whether this option is available during the ordering process. The pickup takes place "in compliance with the highest infection protection measures".

The parent company Ceconomy announced at the weekend that it would apply for government funding from the KfW. The reason is the economic difficulties that the company got into in the wake of the corona virus crisis. According to an insider, KfW funding should amount to two billion euros. While DIY megastores with garden centers can remain open depending on the state, electronics stores have been closed since March 18, 2020.

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