Tug-of-war between landlords and traders

Retail is expected to enter a period of major restructuring in the coming months, as the coronavirus crisis that came hot on the heels of the financial crisis of the 2010s is bringing commercial store owners and shopkeepers into conflict.

The representatives of owners and traders may do their best to show a picture of consent when they speak publicly, calling on their members for cooperation to avert as many shutdowns as possible, but the market reality is quite different.

The property market is dominated by landlords who appear inflexible despite the drop in private consumption, by commercial chains that use their size to put pressure on property owners, and by eviction orders when no solution can be found for generous rental cuts.

Each case is different, of course, as the landlord of a store on Ermou Street in Athens or in the center of Fira on Santorini has...