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Report: Starbucks demands 25% rent reductions

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Seattle Starbucks is struggling to reduce rent levels, and is demanding that some of its U.S. landlords reduce lease rates by 25%, according to Bloomberg.com.

Starbucks reportedly sent letters to select landlords seeking rent reductions of 20% to 25%. The retail leasing division of Prudential Douglas Ellman is advising landlords to honor the request, the article said.

Rent-reduction efforts date back to January, an effort the chain hoped would help to slash overall expenses, Tara Darrow, a spokeswoman for the Seattle-based company, said in the article.

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