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Outlook For Malls Dims As Retailers Falter

"Analysts say as much as a quarter of America’s malls may close in the next five years," per The New York Times. "The pandemic has been devastating for the retail industry," with prominent department store chains closing stores, which "could cause other tenants to abandon malls at the same time as large specialty chains like Victoria’s Secret are shrinking." That, plus the rise of online shopping, could lead to malls that are “'community-based' in smaller markets, with local and regional businesses," according to one analyst..

Read the whole story at The New York Times »

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