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Spirit Halloween grows and retail shrinks

California residents may be seeing a Spirit Halloween store in their local malls in the near future. The chain operates mostly online throughout the year, having a physical presence only two months out of 12. Stores such as Spirit Halloween appeal to malls or other retail landlords with vacant space because national chains may take months to sign leases. Therefore, companies like these can fill space and create revenue in the interim.

In 2017, Spirit Halloween will have 1,300 locations throughout the United States and Canada. It has added as many as 100 locations annually since 2002. In addition to malls, the company signs leases in open-air venues and wherever else space may be available for the right price. In recent years, traditional retailers have either closed locations or have gone out of business for good. This has made landlords more open to the idea of pop-up shops.

By renting vacant spaces for even a short time, it allows a landlord to generate revenue as well as keep the property in good shape. Halloween can be a particularly lucrative time of the year as spending for the holiday is expected to reach $9.1 billion in 2017. Other companies such as Toys 'R Us Express are attempting to fill the void created by 19 retail businesses that have filed for bankruptcy this year.

In the event that a tenant or landlord fails to fulfill their obligations under a lease, it may be wise to speak with an attorney. They may be able to review lease disputes and suggest ways to resolve them. It may be possible for some disputes to be settled outside of court by either modifying the terms of a current agreement. However, legal counsel may be available to represent a party in court.

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