Huge mall retailer considers bankruptcy and closing all stores
The popular mall retailer is reportedly planning to file for bankruptcy and close all of its stores.
The rise of e-commerce over the last 25 years and increased consumer use of internet retailers have severely impacted shopping malls, retail centers, and their tenants.
After the heyday of malls during the 1980s and 90s, when trips to the mall were an everyday occurrence, the convenience of internet shopping pulled consumers away from the malls in the new millennium. Mall retailers who didn't evolve and offer online shopping saw revenue decline and financial distress increase.
