During Simon Property Group`s Q3 earnings call, CEO David Simon told analysts he believes the worst of this most recent wave of retail closures is over.
"I think ... who knows, but I think we`re kind of reaching bottom of that stuff," Simon said. "It`s rivaling what happened in `17. So it`s not like something that we haven`t experienced before, but we know what we have to do."
Perhaps aiding that optimism is recent news that Forever 21`s bankruptcy may not result in as many closures as initially thought. The fast-fashion retailer has been able to get rent discounts from its largest landlords as it restructures in the wake of filing for Chapter 11 bankruptcy, National Real Estate Investor reports.
...moreRSK: For some reason, I do not think so...with a late Thanksgiving, retailers will have one less week for the Christmas shopping season.
Share this article on you social outlets
Our Sponsors
- - Volume: 7 - WEEK: 46 Date: 11/12/2019 8:22:45 AM -