The retailer’s US operating company filed for bankruptcy Sunday — for the second time in six years — in a court in Delaware, citing fierce competition from foreign fast fashion retailers. It marks the end of an era for a clothing brand that introduced many teens to fast fashion.
It’s more convoluted. Simon Malls has a stake in catalyst brands which owns Forever 21 JCPenney and SHEIN. Yes, that SHEIN.
Amazing. I have a Simon mall right next to work and there are several stores taken up by private retail who sell nothing more than hats or junk t shirts. They must have way below market rent.
I think mall landlords will do that if occupancy drops low enough, because once your mall gets known for being a dead mall, you’re fucked.
There’s a dying local mall that has an ever increasing number of interior mall storefronts rented out to an ugly furniture store. Its a larger two story sprawling mall. The last time I was there a couple of years ago they must have had 15 to 20 store spaces with all the walls knocked out in one giant contiguous space. I fully expect more storefronts fall to the mushroom like furniture store slowly feeding on the decomposing body of the dying mall.
Definitely agree