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Trump’s Company Seeks Financial Help as Coronavirus Takes Toll

As companies nationwide look for relief, the Trump Organization has talked with Deutsche Bank and a Florida county about delaying payments on some loans and other obligations.

By David Enrich, Ben Protess and Eric Lipton
April 2, 2020 Updated 3:27 p.m. ET

All over the country, businesses large and small are seeking breathing room from their lenders, landlords and business partners as they face the financial fallout from the coronavirus crisis.

President Trump’s family company is among those looking for help.

With some of its golf courses and hotels closed amid the economic lockdown, the Trump Organization has been exploring whether it can delay payments on some of its loans and other financial obligations, according to people familiar with the matter and documents reviewed by The New York Times.

Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank.

And in Florida, the Trump Organization sought guidance last week from Palm Beach County about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club

The discussions with Deutsche Bank and Palm Beach County are preliminary, and it isn’t clear whether Mr. Trump’s company will be able to delay or reduce its payments, according to people briefed on the discussions.

“These days everybody is working together,” said Eric Trump, the president’s son, who helps manage the family business. “Tenants are working with landlords, landlords are working with banks. The whole world is working together as we fight through this pandemic.”

The Trump Organization’s requests put lenders and landlords in the awkward position of having to accede or risk alienating Mr. Trump.

Like the broader hospitality industry, the Trump Organization is poised to take a significant hit from the coronavirus crisis.
The War on Coronavirus Comes to Trump Propertie
https://www.nytimes.com/2020/03/20/business/trump-businesses-coronavirus.html

In recent weeks, the company has temporarily closed its hotel overlooking the Las Vegas Strip, cut staff and services at its hotels in New York and Washington and largely shuttered its golf clubs in Florida and New Jersey. It also closed the Mar-a-Lago club in Florida, which at this time of year would normally be serving as the “winter White House,” as Mr. Trump likes to call it.

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https://www.nytimes.com/2020/04/02/business/economy/coronavirus-trump-company-finances.html

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Trump Org asks Deutsche Bank to delay loan payments as coronavirus shutters their properties

Published 9 mins ago on April 2, 2020

https://www.rawstory.com/2020/04/trump-org-asks-deutsche-bank-to-delay-loan-payments-as-coronavirus-shutters-their-properties/