Crushed By The Virus, 2 Mall Operators File For Bankruptcy

Even before the virus, malls have struggled to attract shoppers who are increasingly shopping online or elsewhere. But the pandemic forced many of them to temporarily close for months. Mall tenants, which operators rely on for rent payments, are also stressed. Some are going bankrupt and closing stores, such as department store chain J.C. Penney.

The two bankruptcies come just before the crucial holiday shopping season. With reported coronavirus cases rising, malls will need to limit crowds during what is traditionally their busiest times of the year. At the same time, big retailers that didn’t have to close during the pandemic, such as Amazon, Target and Walmart, are benefiting as they push people to shop online.