For years, traditional malls around the United States have been in a state of partial or full collapse thanks to "the Amazon effect": deteriorating conditions, bankrupt or cash-bleeding tenants, with some even transforming into homeless shelters as the retail industry "evolves".
In other words, as Bloomberg writes, "things are getting worse for malls across America." So much worse, in fact, that their owners are simply walking away early from struggling properties, a trend that has sparked fears of material losses among mortgage bond investors.
Investors in and lenders to malls across America are bracing for the fallout from the disappearance of the brick and mortar sub-sector of the industry. With the recent bankruptcy of retail giant Sears, mall operators are continuing to see accelerating defaults in the wake of numerous other retail bankruptcies from stores like Bon-Ton, Wet Seal and RadioShack, and many others, resulting in abrupt declines in rental and lease payments.
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5 comments:
Sad ..really is Sad ! Nobody Will ever Get Enough exercise Or Off Their Cells !!!
Who goes to Malls anymore ? Even teenagers don't hang out there. Eating out and shopping is no longer the American pass time. People could have second jobs and more earnings given all the time they devote to consuming Chinese junk.
Turn them into schools and public works buildings.
If the stores would stock more merchandise in more styles and sizes, then we wouldn't have to shop online to find what we need.
Old people walk in them when it's cold or raining. Other than that??????????????
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