The 20-year lease the company took in 2006 was due to expire in 2026. Gucci got a reduction in rent after agreeing to expand its lease beyond this date, the sources said.

Gucci declined to comment to the Times, and The Trump Organization did not respond to the paper’s request for comment. Gucci had asked the Trump Organization to sign confidentiality agreements regarding the terms of the lease, one person who had seen the lease told the publication.

The Trump Organization and Gucci’s parent company, Kering, were contacted for comment.

Other companies are scrambling to cut ties with the former president.

Gucci leases a nearly 50,000 sq ft space spread over five floors of Trump Tower. This is around 20 per cent of the tower’s total rental space.

In 2012, the fashion brand was paying US$18.7 million in annual rent for the space at a rate of US$384.40 per square foot, an SEC filing shows. This made it by far the tower’s biggest rent payer, contributing nearly two-thirds of the building’s annual rental income.

The city of New York is also ending its business contracts with the Trump Organization, which had managed a golf course in the Bronx as well as two ice skating rinks and the carousel in Central Park, for a combined annual revenue of around US$17 million.

Trump-branded Manhattan buildings have lost more than 20 per cent of their value since he first took office.

“The Trump name is probably pretty radioactive right now,” property agent Mark Cohen said.

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This article originally appeared on Business Insider