Category: Retail
More US Retail Stores Opening Than Closing This Year: Survey
Retailers nationwide plan to open more stores than they are closing this year, according to a survey from RetailSphere. More than half of retailers surveyed by RetailSphere intend to expand their businesses and more are looking for spaces with a smaller footprint, under 2,500 square feet. Grocery, fast-casual, and value stores are leading the charge […]
Retailers trade Fifth Ave. for Worth Ave. as Palm Beach scene thrives with Americans heading South
Retailers, restaurants, and other business owners are opening up around Palm Beach, Florida, eyeing tax and lifestyle perks, as more people look to call South Florida home during the Covid pandemic and beyond. WEST PALM BEACH, Fla. — Retailers, restaurants and other business owners want to be where the people are. And people are moving […]
Shoppers head to malls in final runup to Christmas. But Covid hot spots threaten last-minute boost
Shopper traffic to stores on the final Saturday before Christmas dropped 40.9% from a year ago, according to RetailNext. The need for procrastinating shoppers to get gifts under the tree in time for Christmas was more compelling this year than snagging Black Friday doorbusters. The number of shoppers who turned up at stores on the […]
The 10 biggest retail bankruptcies of 2020
This year, Neiman Marcus and J.C. Penney joined the ranks of some of the biggest retail bankruptcies on record, including Sears, Toys R Us and Circuit City. More than three dozen retailers, including the nation’s oldest department store chain, filed for bankruptcy this year, marking an 11-year high. Pre-pandemic, several of these retailers were already […]
Ruby Tuesday receives court approval for bankruptcy sale
Ruby Tuesday’s parent company, RTI Holdings, has until Dec. 10 to enter a stalking-horse agreement and until Jan. 14 to submit a bid. Ruby Tuesday received approval on Friday from the U.S. Bankruptcy Court for the District of Del. to begin a sale process of the company nearly two months after the Maryville, Tenn. casual-dining […]
Apartment Investors Mull Opportunities in Distressed Malls
Developers have proposed to redevelop more than a hundred malls into mixed-used properties with apartments. Apartment dealmakers may find an opportunity to build new apartments around the shells of under-performing or empty regional malls. Hundreds of troubled shopping malls may be seized by lenders over the next year, experts say. “In the current market with […]
Growing Number of Landlords Are Offering Restaurants Percentage-Only Rent
That might still not be enough to save many smaller operators. A recent survey by the NYC Hospitality Alliance helps illustrate the dire straits of America’s restaurants. The survey found that 87 percent of New York City’s restaurants, bars and nightlife venues couldn’t pay their full rent in August. The culprit, of course, is pandemic […]
Turning a dead mall into a warehouse will slash its value as much as 90%, Barclays predicts
Turning dead malls into fulfillment centers, apartment complexes, schools or medical offices could mean massive writeoffs in property values, according to a new Barclays report. In the coming years, hundreds of America’s roughly 1,100 malls are expected to shut, as retail, restaurant and movie theater closures pile up, and more people favor shopping on the […]
Retailers have started paying rent again but are still fighting with their landlords
Less than a third of retail companies paid at least 75% of June rent, according to a study by the National Retail Federation and the investment bank PJ Solomon. Month by month, retailers are starting to pay more rent as states lift shutdown orders and consumers become more comfortable venturing out to shop during the […]
Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal
U.S. mall owners Simon and Brookfield are close to finalizing an $800 million deal to rescue J.C. Penney from bankruptcy. U.S. mall owners Simon Property Group and Brookfield Property Partners are close to finalizing an $800 million deal to rescue the embattled department store chain J.C. Penney from bankruptcy, avoiding a total liquidation and saving […]
