Owner of Westfield, Buckling under $32 Billion in Debt, Plans to Dump its US Malls After Huge Losses by Nick Corbishley • Feb 12, 2021 • 95 Comments “A management team that remains prisoner of its failed strategy that started with the acquisition of Westfield.”
The State of American Debt Slaves: Q4 2020. Consumer Borrowing in Weirdest Economy Ever by Wolf Richter • Feb 6, 2021 • 234 Comments Amid enormous shifts and distortions and trillions of dollars handed out by the government and the Fed.
Largest US Mall Landlord Simon Property Group Sent Jingle Mail to Deutsche Bank Which Foreclosed on Mall, But Got No Bids by Wolf Richter • Feb 4, 2021 • 129 Comments Becoming a prolific jingle-mailer to dump malls. Holders of CMBS eat the losses.
“Seasonal Adjustments” of Retail Sales Gone Awry in Weirdest Economy Ever? Americans Actually Cut Back”? by Wolf Richter • Jan 15, 2021 • 140 Comments Third month in a row of declining retail sales, “seasonally adjusted.” But the curveball from ecommerce caused me to dig and doubt. 15 whiplash charts of retail sales.
Stunning Brick & Mortar Meltdown, Manhattan Style: The Collapse of Retail Rents Before & Now During the Pandemic by Wolf Richter • Jan 11, 2021 • 171 Comments Store rents had already plunged, amid a surge in vacancies. Then in the spring, the market froze; when it thawed, rents dropped to 10-year lows.
After 17 Years of Falling Ticket Sales, Movie Theaters Got Annihilated in 2020 by Wolf Richter • Jan 10, 2021 • 209 Comments Americans are watching more movies than ever, but they’re watching at home. The studios are on board in a big way.
Where Americans Splurged & Where They Cut Back in 13 Whiplash-Charts by Wolf Richter • Dec 16, 2020 • 149 Comments Stimulus Fatigue sets in. Second month of declining retail sales in a row. But online sales eked out a new record, if barely.
Three Big Retailer Casualties in One Week: UK Retail Landlords Reel after Worst Week of Nightmare Year by Nick Corbishley • Dec 7, 2020 • 50 Comments Some property owners are more exposed to the fallout than others.
Just in Time for Holiday Shopping Season: UK Fashion Giant Arcadia Crashes into Bankruptcy by Nick Corbishley • Dec 1, 2020 • 34 Comments Asset stripping by its owner, years of brick-and-mortar meltdown, topped off by the Pandemic. Suppliers, landlords, and pensioners twist in the wind.
California Legal Cannabis Sales Exploded. And California is Cashing In by Wolf Richter • Nov 24, 2020 • 110 Comments On Fumes of Stimulus and to Soothe the Frustration.
