The economy may be reopening again, but many businesses are still closing their doors or laying off workers due to the Coronavirus pandemic. And that includes businesses and employees of Bravo reality TV stars too. Former Real Housewives of Beverly Hills star Lisa Vanderpump hoped her restaurants would survive the shut down. Vanderpump Rules stars Tom Sandoval and Tom Schwartz even helped raise money for Lisa’s out of work staff.
And now another RHOBH star is feeling the effects of the pandemic. Anyone who watches the show knows that Kyle Richard’s husband, Mauricio Umansky, owns a successful real estate company called The Agency. We all know this because Kyle wears Agency swag every episode, and Mauricio has a giant party at their home celebrating the company at least once a season. And unfortunately for Mauricio, the party seems to be over.
Mauricio had plenty of drama last year, when he was sued over a thirty-two million dollar mansion in Malibu. Luckily for him, the lawsuit accusing him of fraud was settled, and he could move on with his life. But then the coronavirus happened, and threw a wrench in Mauricio’s ever expanding real estate empire.
The Real CDeal reported that Maurcio’s company, The Agency, recently shut down their Palm Springs office and are reassessing “its operations amid the coronavirus pandemic.” They wrote, “A spokesperson for the brokerage confirmed that the Agency moved out of its office…with staff and agents seeking work space sent 15 miles away to an office in Palm Desert.”
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I wonder if moving from Palm Springs to Palm Desert is similar to moving from mid city Los Angeles and into the Valley. It’s hotter, smoggier, and a tad bit cheaper. And you can actually find a parking space for free.
The article mentioned the Agency originally expanded to places like Palm Springs after a three year company “growth spurt.” To be honest, I could The Agency still having to shut down some of their offices even if the coronavirus hadn’t happened. You only have so many people who can afford to pay over a million dollars for a home.
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Currently, Mauricio is “reexamining their need for physical space” for their thirty-six offices. He said, “A lot of agents are talking to me – ‘Why not get rid of space?’ That’s what the agents are telling us. We have some rent commitments. But let’s see what’s happening six months from now, nine months now.”
The Agency even “received a $2 million-$5 million Paycheck Protection Program loan in April to retain 104 jobs.” But cutting down on space and the PPP loan still wasn’t enough to keep his employees on staff. Mauricio said, “We have to lay off people and furlough people. It was one of the most difficult things I’ve ever gone through in my life.”
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Hopefully the economy recovers sooner rather than later, so Mauricio can hire back all his employees and go back to having Agency parties on RHOBH. I just ask that Kyle lay off wearing the swag every episode.
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TELL US – ARE YOU SURPRISED THAT THE AGENCY HAD TO SHUT DOWN ONE OF THEIR OFFICES? DO YOU THINK MAURICIO’S BUSINESS WILL BE ABLE TO RECOVER FROM THE PANDEMIC?
[Photo Credit: Bravo]