Potsdam Hackett's gets reprieve

Hackett's Hardware will remain in the Potsdam Plaza after reaching a rent agreement with plaza landlord Gibralter Management.

Earlier, Gibralter had planned to evict the store because of non-payment of rent.

The agreement announced by Hackett's parent company calls for "repaying certain back rents over an agreed upon period" and staying current on future rents.

"Potsdam was one of our best performing locations and we are grateful that our landlord was sensitive to our recent situation and willing to work with us to maintain operations," said Hacketts C.O.O. Herbert Becker.

Becker said he is "somewhat optimistic" that similar deals can be reached with other landlords where eviction proceedings have begun.

He said the chain has been behind on rent payments because it was forced to put its money into senior loan repayment.