Malls news and archive

Mall vacancies hit record high

Retail and office vacancies keep climbing as declining physical store traffic has led to store closures. Vacancies have hit a record at 11.4 percent, a 90-basis-point-jump from the previous quarter according to Moody’s Analytics REIS. The news was reported by Retail Dive. Regional and super-regional mall saw a .4 percent uptick year over year,...

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Business

CBL files for bankruptcy

CBL & Associates Properties Inc, a U.S. shopping mall operator, has voluntarily filed for Chapter 11 bankruptcy. The news was reported by Reuters. This makes CBL another casualty of mall operator bankruptcies as coronavirus put a major dent in some already struggling mall businesses. Malls, which were already seeing declining foot traffic, were...

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Retail

Malls reopen in India, with riders

As of 5th August, malls across India are allowed to open again as part of the country’s “unlockdown” efforts. While mall and shopping centre doors have opened and the first weekend saw a good turnout across the board and despite heavy rain warnings in some parts of the country, mall operators and retailers need to make sure to stick to mandatory...

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Retail

Malls impacted by close to 6000 store closures this year

Things are not looking good for the American mall. CNBC has reported that U.S. retailers have announced so far this year they are set to close 5994 stores, not even offset by an opening of 2641 stores. Data analytics firm Thasos has also reported that foot traffic is declining in malls peaking last year around 2018 and steadily declining since....