Find in the news:
BY COUNTRY

Two large owners of shopping malls declare bankruptcy



Two major U.S. shopping center owners CBL and Pennsylvania Real Estate Investment Trust (PREIT), filed a bankruptcy petition.
Shopping mall

Shopping centers have been put under pressure by the Coronavirus Pandemic: their tenants do not pay rent, and dozens of retailers and restaurants themselves are already filing for bankruptcy, such as the chain of department stores JC Penney. 

Tennessee-based CBL operates 107 properties, including shopping malls, with a total area of 6.2 million square meters in 26 states. Most of its malls are B- and C-rated, which means they have smaller sales per area than those rated A.

PREIT manages 2.1 million square meters of retail space, including 19 shopping malls, including the largest Fashion District Philadelphia. In recent years, the company has been actively restructuring its malls, making them more profitable, and reducing traditional retailing dependence. But this process was interrupted by the Coronavirus pandemic.

Both companies have already presented their business restructuring plans. But they still have many challenges ahead of them against the background of a sharp decline in consumer interest in visiting malls. Thus, according to the survey conducted by Coresight Research, today, shopping centers have become the most avoidable places for public use. The reluctance to visit them was announced by 55,4% of respondents.

More about shopping malls in the USA



YESTERDAY, USA:
Tesla stores are leaving mallsThe electric car maker is taking another blow to the position of malls that are losing tenants one-by-one.
YESTERDAY, Estonia:
The initial value of the 55,000 sq.m. complex is €85 million.
DAY BEFORE YESTERDAY, United Kingdom:
Two years after Philip Morris announced its plans to expand the British chain, it has become known of its intention to close it completely.
DAY BEFORE YESTERDAY:
Those who have not been vaccinated will not access public spaces, such as government offices, restaurants, and shopping malls.
Jul 27, 2021, United Kingdom:
The chain of luxury department stores, founded in 1909, may change ownership.
Jul 20, 2021, USA:
LVMH will acquire a controlling stake in Off-White, with its founder retaining 40%.
Friend
and Follow
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us