by Mike ‘Mish’ Shedlock
300 Class B Malls in the US are dying a slow death.
How Malls Die
Bloomberg discusses the Crystal Mall in Waterford Connecticut as an example of the fate of a Typical Class B Mall, Anywhere, USA.
All in all, as many as 25,000 stores could close in the U.S. this year, mostly in malls, according to Coresight. That would demolish the previous record of about 9,800 closures, set in 2019.
Between bankruptcies, distressed owners, store closures and existing vacancies, at least half of Crystal Mall’s square footage is now at risk. And hundreds of other B malls around the country are in the same boat.