Findings, music, and occasional reflections by Paul Woodward

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Trump Organization seeks financial help as coronavirus takes toll

The New York Times reports:

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. [Continue reading…]

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