Commission-Public-Records

From: Jim Schmitz <jschmitz@spi-team.com>

Sent:

Tuesday, March 24, 2020 8:55 AM

To:

Commission-Public-Records

Cc:

Eunice Lee

Subject:

[EXTERNAL] Commission Special Meeting

Categories:

Public Comment

WARNING:Thisisanexternalemail.Donotclickonlinksoropenattachmentsunlessyourecognizethesenderandexpectthe

contentofthisemailtobesafe.



EsteemedCommissioners,

Asyoucanimagine,theCovid‐19pandemichastakenanunforeseentollontheentireairportcommunity.AtStellar

Retail,aconcessionaireoperatingseveralRetailestablishmentsinSeattleInternationalAirport,thehealthandwell‐

beingofourassociates,aswellasourviabilityasacompanymoving

forwardistantamount.

Asaresultofcontinueddecreasesinairporttrafficandsubsequentlossesinrevenue,wehavehadtotakethe

unfortunateactionoffurloughinganoverwhelmingnumberofassociates.

Sofar,theairporthasbeenatremendouspartner,allowingustoadjuststorehoursand,insomecases,

closelocations

down.However,this,coupledwithcorporatepaycutsandfurloughs,isnotenoughtooffsetthecostofmaintaining

associatebenefitsandkeepingtheminimumamountofviablelocationsopen.

Wearenowrequestingthatcertainmeasuresbetaken,retroactivelyeffectiveonMarch1,2020,inorderfor

usto

remainsolventasabusiness:

1. SuspensionofMinimumAnnualGuarantees

2. SuspensionofVariableRents

3. SuspensionofOperatingCostsrelatedtostoreopenings(utilities,CAM,Marketingfees,etc.)

Youmayalreadyknowthatotherairportshavetakensimilaractions.

Weunderstandthesearetemporaryandlookforward

tothedaywhenwecanresumebusinessasusual.



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