The most common shock in a store closure is the lease. Owners assume locking the door ends the obligation. It usually does not — and if you personally guaranteed it, the obligation can follow you for years. Here is how commercial-lease exit actually works.
Your four exit paths
| Path | What it costs | Best when |
|---|---|---|
| Ride out the term | Rent until expiry; lowest conflict | You can sublet or wind down slowly |
| Assignment | Landlord fee; new tenant takes over | Lease allows assignment; market is healthy |
| Sublease | You stay liable; collect from subtenant | You want income but can’t assign |
| Buyout / termination | Lump sum negotiated | PG at risk; want a clean break |
The duty to mitigate
In most states, after you surrender the premises, the landlord must use reasonable efforts to re-rent. You are generally liable for rent until a replacement tenant is found (or the original term ends), plus any difference if the new rent is lower — not automatically the entire remaining balance. A few states and some lease clauses alter this, so read your lease and your state rule. Document your surrender in writing and request the landlord’s mitigation efforts.
Use the Lease Exit Calculator to compare riding out, terminating with a fee, and subleasing — and see which leaves you owing the least after mitigation.
Sources: commercial-lease law summaries (duty to mitigate by state), NOLO and legal-clinic lease-exit guides, commercial real-estate brokerage data. Retrieved 2026-08-13. State law varies; this is not legal advice.