Tag Archives: mall

(Bloomberg) — Washington Prime Group Inc., a real estate investment trust that operates enclosed malls and strip centers across the U.S., filed for bankruptcy after the Covid-19 pandemic curtailed in-person shopping. The Chapter 11 filing in Houston will allow Washington Prime to continue operating while it seeks to implement a restructuring agreement that it reached with certain creditors, according to a board resolution filed with the bankruptcy petition. The company, which estimated its… Source link

After a brutal year for most malls — capped off by a weak holiday shopping season thanks to the deadly COVID-19 pandemic —many that have struggled financially for years may finally vanish in 2021 as their tenants close up shop. “Bankruptcies and store closings will accelerate again,” veteran retail executive Jan Rogers Kniffen said in a new missive to clients this week. Of the roughly 1,100 malls left in America, Kniffen believes only 278 are viable in the post pandemic world where… Source link