It’s nice to know that independently owned shops aren’t the only ones taking a hit.
The severity of the recession is turning some malls that were once viewed as viable into potential casualties. “Any mall that’s sitting on life support is probably going to get its plug pulled” as the economy stalls, says Michael Glimcher, chairman and CEO of Glimcher Realty Trust, which owns 23 U.S. properties, including Eastland Mall in Charlotte.
Read the rest of this Wall Street Journal story here.
This article appears in May 19-26, 2009.
