Local retailer owes The Greene nearly $900K in rent, fees


A local retailer owes The Greene Town Center nearly $900,000 in past-due rent, other fees and court costs after defaulting on its five-year lease, a judge ruled last week.

The Greene filed a lawsuit in Greene County Common Pleas Court against tenant Griffin & Co. Home Decor, known as RM Underdog Rising in September 2017. The complaint states the retailer defaulted on its five-year lease last year.

Griffin & Co., a home decor and gift shop, announced in March 2017 that they would relocate to a space at 4392 Holly Drive at The Greene. The store had been located at the Town & Country Shopping Center since August 2014.

» TRENDING BUSINESS: Procter & Gamble to lay off hundreds in 2 cities

Last Friday, a judge ordered Griffin & Co. to pay $879,042.30 plus post-judgment interest; $5,123.45 in attorney fees and costs; and any additional court costs after the company failed to move within the time allotted by the court system.

The amount of accelerated rent, past due rent, late fees, re-letting costs, fees and cost to enforce the lease totaled approximately $884,165.76, according to court documents.

» BANKRUPTCY AND NEW STORES: 7 things we learned about retail this week

The complaint stated Griffin & Co. entered into a five-year lease at the center on March 13. The tenant’s minimum rent was $6,894.67 per month for the first three years, and $7,756.50 per month for the fourth and fifth years of the lease.

If the tenant failed to pay rent on time, the landlord could demand a late charge equal to 5 percent of the amount due each month until paid in full, and the tenant agreed to pay 1.5 percent interest rate on any unpaid amount, according to court documents.

The retailer, which sold country-themed home decor and other gifts, last paid rent in May. In August, The Greene notified the store that it was in default of its obligations under its signed lease agreement.

Officials for The Greene said they could not comment at this time. This news organization also attempted to call the owners of Griffin & Co., but the company phone number is already out of service and all store information has been taken off online.

FIVE FAST BUSINESS READS

• Kroger sells off convenience store business for $2.15B

• Toys ‘R’ Us going-out-of-business sales start this week

• Move over, bitcoin. GE researching blockchain technology

• Elder-Beerman parent company says 60+ stores could close under plan

• German grocery chain Lidl halts plans to open local store



Reader Comments ...


Next Up in Business

Cop killings up so far in 2018; Westerville officers mourned
Cop killings up so far in 2018; Westerville officers mourned

Two Westerville police officers killed last weekend and another slain Tuesday in Chicago brought to 12 the number of cops gunned down in the line of duty this year, marking a dramatic increase in such tragedies compared to this time in previous years. The last such incident locally was New Year’s Day 2011, when Clark County Sheriff’s Office...
I tried the sensory-deprivation float at Gravity Spa in Beavercreek
I tried the sensory-deprivation float at Gravity Spa in Beavercreek

Upon entering the Gravity Spa in Beavercreek, you immediately get the sense you’re in a place of relaxation — and not just because of the comical sign in the window asking for quietness. You’ll see aquatic-inspired artwork, hear soothing instrumental music, and smell a faint scent of essential oils. The employees are either barefoot...
Brown pushes union pension recovery plan in Dayton
Brown pushes union pension recovery plan in Dayton

U.S. Sen. Sherrod Brown visited with Teamsters members and retirees Friday to push legislation he argues could save a string of ailing blue-collar pensions. Brown, D-Ohio, visited the Harrison Twp. offices of Teamsters Local 957 to discuss the shortfalls that threaten the union pensions of 60,000 Ohioans and 1.5 million workers and retirees nationwide...
Springfield nursing home investigation: Patient ODs on unlocked pills
Springfield nursing home investigation: Patient ODs on unlocked pills

Two patients allegedly gained access to unsecured narcotics and one of them overdosed at a Springfield nursing home, according to state documents obtained by the Springfield News-Sun. The Ohio Department of Health filed a statement of deficiencies for Eaglewood Care Center, 200 Villa Road in Springfield, after the alleged incident that occurred in...
Popular Springfield restaurant to bring back seasonal food truck
Popular Springfield restaurant to bring back seasonal food truck

Springfield barbeque lovers, take notice: Rudy’s is going mobile again. Rudy’s Smokehouse, the barbeque restaurant touted as a Springfield staple, has brought back its mobile food truck for the season. The restaurant started serving from the truck on Feb. 12. DETAILS: Downtown Springfield restaurant adds featured artist, new menu items...
More Stories