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Many Traditional Malls Are on Life Support

By Charles M. Tatelbaum
July 02, 2015

In what some economists and many governmental officials say is a robust and growing economy, why are major chains closing 6,000 retail stores in malls and strip centers within the near future?

Standing alone, these statistics relating to the retail store closings are frightening on their face, yet they represent the proverbial tip of the iceberg in connection with the evolution and in many instances the demise of the traditional shopping mall.

Since the beginning of 2015, at least six major clothing retailers that populate the U.S. shopping malls have filed for bankruptcy protection, and most will never emerge to resume any significant degree of business. This is in addition to target Canada filing for insolvency protection and, closing all 123 of its Canadian stores and laying off all employees.

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