Are Malls Across the Country Going to Disappear?
Zerohedge.com published an interesting article on retailers who are either going bankrupt, going out of business, or shutting down stores. That is nothing new. Having said that, these are "mall" type stores. Here is the list:
Gap - shutting down 230 locations over the next two years.
JCPenney - shutting down 18 of its department stores.
Victoria’s Secret stores - shutting down 53 stores.
Tesla - who was using malls as showrooms recently announced all of its sales would be moving online.
Payless Inc. just went bankrupt for the second time in two years. They are going to be abandoning their 2500 stores.
Sears was minutes away from complete liquidation.
Brookstone filed for bankruptcy last August.
Gymboree, RadioShack, Bon-Ton Shoes and Wet Seal all filed for bankruptcy over the last half decade.
Things Remembered will also be closing most of its 400 stores.
Overall, since 2016, 35 major retail chains, and countless smaller ones, have filed for Chapter 11.
These are stores that you see in most big malls and some of them are anchor stores. These stores join an even longer list of retailers who are in trouble.
The landscape is shifting. Will we find ourselves in a scenario where the number of vacancies will come to a point where the mall, an American institution, will be no more?