An analysis by commercial real estate services firm CoStar shows 14 of the 20 largest mall tenants are either apparel retailers or department store chains.
have been filling vacant retail space for years in the face of store closures from Sears, Bon-Ton, Claire's, Payless ShoeSource and others, the Covid-19 crisis is putting a glut of empty space back on the market at a rate nobody could have anticipated.
They will likely have to turn to other uses, such as storage facilities and warehouses, to fill the voids. Under such intense pressure, some malls could go dark forever. Northgate Mall in Durham, North Carolina, for example, became the first regional mall to shut permanently during the pandemic.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Walmart ekes out an edge in groceries during the pandemicWalmart has hired 235,000 temporary employees to cope with coronavirus-fuelled demand
Read more »
The 5 wealthiest Americans have gotten 75 billion dollars richer while a pandemic guts the economyThe report, which is based on Forbes data for America's billionaires, showed that the total net worth of America's 600 billionaires increased by 15 percent, from $2.948 trillion to $3.382 trillion.
Read more »
Department stores shutting down could push malls into extinction - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
These Speedy Vegan (& Gluten-Free!) Enchiladas Are My New Summer ObsessionA big-batch, vegetable-forward, won't-put-you-straight-to-bed dinner to make all summer long.
Read more »
Sofía Vergara Hates When AGT Contestants Play This InstrumentSofía Vergara wasn't holding back during her virtual visit to The Tonight Show, where she admitted that her America's Got Talent gig has actually made her dislike this instrument.
Read more »
Lana Del Rey and Alison Roman flaunted white women's privilege. But they're not aloneAs 'Mrs. America' shows, the white female privilege displayed by Lana Del Rey and Alison Roman in recent spats is larger, and older, than either of them.
Read more »