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Malls

Homebound workers inject life into suburban malls after downtowns empty out

Homebound workers inject life into suburban malls after downtowns empty out

By: Nichola Saminather, Victoria Waldersee
Source: Reuters
Date of Publication: November 8th, 2020
As the coronavirus pandemic rages and most downtown office employees in many cities work from home at least through year-end, urban retailers’ loss is turning out to be suburban shopping centres’ gain.
Simon, Brookfield to save JC Penney from bankruptcy, keep 650 shops

Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

By: Lauren Thomas
Source: CNBC
Date of Publication: September 9th, 2020
U.S. mall owners Simon and Brookfield are close to finalizing an $800 million deal to rescue J.C. Penney from bankruptcy.
No pandemic pause in IKEA's U.S. shopping mall plans

No pandemic pause in IKEA's U.S. shopping mall plans

By: Anna Ringstrom
Source: Reuters
Date of Publication: September 7th, 2020
IKEA’s shopping centers business hopes to open the doors of its first mall in the United States, in the center of San Francisco, within a year, pushing ahead with its expansion plans while many retailers are reeling from the coronavirus crisis.
The biggest US mall owner Simon says still looking to salvage other distressed retailers

The biggest US mall owner Simon says still looking to salvage other distressed retailers

By: Lauren Thomas
Source: CNBC
Date of Publication: August 10th, 2020
Simon Property Group Chief Executive David Simon said Monday that the company is still looking to salvage additional distressed retailers, having already made bids for bankrupted Lucky Brand, Brooks Brothers and J.C. Penney.
Mall owner Simon Property profit disappoints as pandemic cuts shopping days

Mall owner Simon Property profit disappoints as pandemic cuts shopping days

Source: Reuters
Date of Publication: August 10th, 2020
Simon Property Group Inc (SPG.N) missed Wall Street estimates for quarterly profit on Monday, hurt by unpaid rent from retailers across its U.S. malls who suffered a total loss of 10,500 shopping days due to coronavirus-led lockdowns.
Ann Taylor parent Ascena files for Chapter 11 bankruptcy

Ann Taylor parent Ascena files for Chapter 11 bankruptcy

By: Lauren Thomas
Source: CNBC
Date of Publication: July 23rd, 2020
Ascena Retail Group has filed for Chapter 11 bankruptcy protection.
JCPenney shouldn't survive the pandemic

Why JCPenney isn't going out of business -- yet

By: Chris Isidore
Source: CNN
Date of Publication: July 16th, 2020
JCPenney has survived world wars, the Great Depression, the Great Recession and the rise of both big box and online rivals. But surviving the Covid-19 pandemic is very much in doubt.
Mall operator Simon Property abandons $3.6 billion acquisition of Taubman

Mall operator Simon Property abandons $3.6 billion acquisition of Taubman

By: Jessica DiNapoli
Source: Reuters
Date of Publication: June 10th, 2020
Simon Property Group Inc (SPG.N), the biggest U.S. mall operator, said on Wednesday it was ending its $3.6-billion deal to buy Taubman Centers Inc (TCO.N), citing the beating the retail sector has taken during the COVID-19 pandemic.
Simon Property prepares to reopen 49 properties. Here's how that will work.pdf

The biggest US mall owner prepares to reopen 49 properties. Here’s how that will work

By: Lauren Thomas
Source: CNBC
Date of Publication: April 28th, 2020
Simon Property Group is reopening 49 of its malls and outlet centers Friday through Monday, according to an internal memo obtained by CNBC.
The mall owner said it will be providing free CDC-approved masks and hand sanitizing packets to shoppers who ask for them. It said it will make free temperature testing available to customers using infrared thermometers.