Category: Mall

Hammerson Weighs Selling Shares, Assets as Covid Hits Malls

Shoppers walk through the atrium of the Centrale shopping mall, operated by Hammerson Plc, in Croydon, south London.

Photographer: Jason Alden/Bloomberg

Hammerson Plc is considering raising capital and selling some of its most prized assets to ride out the coronavirus crisis that’s battering malls and stores.

The developer confirmed on Monday that it’s looking at a possible share sale, without saying how much it could try to raise. Sky News reported on Saturday that Hammerson seeks to raise as much as 600 million pounds ($784 million).

Hammerson also said it’s in advanced talks on the terms of

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Palmer Park Mall shop owners keep sanitizing, pray to avoid a 2nd COVID-19 shutdown

Dakoda Finken is living life on his terms.

He and his partner are their own bosses at the VR Café in the Palmer Park Mall.

They had carved out a niche for themselves with children’s birthday parties and tournaments that drew up to 150 gamers to play at their store on a Sunday.

Then COVID-19 hit.

Now the store has to limit itself to 50% of its typical occupancy. They’ve canceled parties and tournaments and are getting by on day-to-day foot traffic.

“It’s not too bad. I think it’s just the stigma of ‘Don’t go into public places’ that’s

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California reverses re-opening restaurants, malls and salons as Covid-19 cases surge

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California on Monday ordered all indoor restaurants, bars and movie theaters to close again as coronavirus cases soared across America’s most populous state.

Churches as well as businesses including gyms, shopping malls, hair salons and non-essential offices must also close indoor operations in 30 of the state’s worst-hit counties, including Los Angeles, Governor Gavin Newsom announced.

“We’re moving back into a modification mode of our original ‘stay-at-home’ order,” said Newsom, whose state is by far the largest by population and richest in America.

The move came as the Golden State reported 8,358 new coronavirus cases

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Phoenix’s Metrocenter mall permanently closing at end of June, according to businesses

PHOENIX — After 47 years, Metrocenter mall — once considered to be the largest mall in Arizona — will permanently close at the end of June, according to a letter management reportedly sent to some of the mall’s tenants on Friday, and was obtained by ABC15 News.

The mall will close to shoppers at the end of business on Tuesday, June 30, according to the letter. Businesses and vendors will have until July 15 to clear their stores and remove their property, the letter stated.

“Despite our best efforts to bring value back to the mall, complete maintenance projects, and

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The rise and fall of the American mall retail industry

  • American malls were created in the rise of suburbia in order to create spaces for Americans to gather and form communities.
  • Starting with the opening of the Southland Mall in 1956, malls have been a vaulted piece of Americana for decades.
  • But with so many malls being built in close proximity to one another, the newer malls would often poach the department stores from the older ones nearby. Older malls —  without their anchors — would be left to drift away and drown
  • As the 2000s progressed, consumer habits shifted away from the department store altogether.
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