ALBUQUERQUE, N.M. (KRQE) – A local tech company in the Albuquerque metro area is in a fight with its landlord after reportedly failing to pay rent for months. In 2017, tech firm Lavu spoke out saying it was fed up with Albuquerque crime, threatening to leave their downtown location on 3rd Street, but now, they may be forced out.
According to a lawsuit filed last month, Lavu’s landlord, Albuquerque Plaza Investment LLC, sent the company a letter demanding they pay rent. The landlord told Albuquerque Business First this week that Lavu has not paid since April.
Their contract states that rent is more than $30,000 a month for the 17,700 sq. ft. space. Lavu provides a point of sale software to restaurants and bars, industries hit hard by the pandemic.
KRQE News 13 reached out to the company for comment. They said they do not comment on pending litigation, but the CEO highlighted the challenges facing the restaurant and food industry. “Lavu has no plans to curtail its operations or to discontinue any of its business lines,” CEO Saleem Khatri said in a statement. “We are committed to the city of Albuquerque.
There is a stay on evictions right now, but the courts said that only applies to residential properties. The city said this is an issue nationwide that companies are struggling with and encourages tenants and landlords to take advantage of public support like grants or no-interest loans to help companies stay afloat.
KRQE News 13 reached out to lawyers for both parties but did not hear back.
- Erica’s Thursday Afternoon Forecast
- USDA grants $1.6M for agricultural training in New Mexico
- New Mexico utility disconnections on hold during pandemic
- Mexico, U.S. reach last-minute deal on water debt payment
- Semi involved in rollover crash near Edgewood