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When Sears And Penney Leave, Malls Feel Loss

Last week, Sears CEO Eddie Lampert said the chain will be closing more stores. That is bad news for malls for which stores like Sears and J.C. Penney are anchor retailers. Sears, which started the mall business in 1959, no longer has a stake in the business and is also busy pulling out the rest of its presence there. “If one of them goes, it almost forces the other one out, because the mall just won’t get enough traffic,” said an industry analyst.

Read the whole story at Consumerist »

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