Trump Organization Asks for Financial Help Amid Coronavirus Downturn: NYT
Julia Arciga Reporter
Published Apr. 02, 2020
The Trump Organization has reportedly asked about delaying payments to loans and other financial obligations after the coronavirus pandemic closed most of its resorts, hotels, and golf courses. According to The New York Times, the company asked Deutsche Bank late last month about potentially postponing payments on at least some of its hundreds of millions of dollars in loans. A Florida-based company executive also emailed and called Palm Beach County officials to talk about whether they had planned to keep asking for rent payments on land the Trump Organization rents from the county for a 27-hole golf club. The talks with the bank and the county were reportedly preliminary, and the Deutsche Bank discussions are continuing. “These days everybody is working together,” President Trump’s son, Eric, told the Times. “Tenants are working with landlords, landlords are working with banks. The whole world is working together as we fight through this pandemic.”
Policies and sluggish business due to the coronavirus has prompted the shuttering of the Trump Organization’s Las Vegas hotel, Florida and New Jersey golf clubs, and the Mar-a-Lago resort in Florida. Staff and services have also been axed at Trump properties in New York and Washington. A $500 billion economic bailout package that Trump signed last week specifically bars him and his family from accessing the funds.
Read it at The New York Times
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