The End of the Suburban Mall As We Know It

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shoppers-at-the-mall-were-seen-carrying-shopping-bags-from-these-10-retailers-the-mostHenry Grabar in The Slate reports that it was  ten years ago that the  death of  the suburban shopping mall was announced.  This was the first year in fifty that no new malls were built in the United States. “Brick and mortar” retailing has been failing, when “The Limited, a women’s clothing store, shut down 250 stores and laid off 4,000 workers earlier this year. Sears Holdings will close 150 stores, including 108 Kmarts, and Macy’s will close another 100. As anchor stores close, more and more malls are entering foreclosure. Financial instruments composed of debt from mall deals are looking as risky as their counterparts in residential debt did before the housing crisis.”

E-commerce,the rise of Amazon and online shopping has taken some of the blame. While there is increasing employment in warehousing, “department stores; general merchandise stores; and sporting goods, hobby, book, and music stores” have lost jobs…

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