Ralph Lauren Closes 5th Ave Flagship Store; Still Paying $70K a Day in Rent

``Suffice it to say that industry insiders and other observers of the fashion scene were a bit more than shocked to learn that Mr. Lauren pulled out of his flagship location earlier this month. Speaking to the NY Post, Tom Cusick, the president of the Fifth Avenue Business Improvement District said, "I don't recall any company pulling out of a location with a long-term lease after such a short time on Fifth Avenue. "That gives you a good indication of how poorly they were doing at that location that they are paying rent there on an empty space," one source told the New York Post. The person who brought Mr. Lauren and Coca Cola together in the 2013 lease deal was CBRE's   Richard Hodos. He earned REBNY's Retail Deal of the Year Award for his efforts in doing so.''