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Dead Malls
A dead mall, also known as a ghost mall or zombie mall, is a shopping mall that has low consumer traffic or is deteriorating in some manner. Many malls in North America are considered "dead" when they have no surviving anchor store or successor that could attract people to the mall. Without the pedestrian traffic that department stores previously generated, sales volumes decline for almost all stores and rental revenues from those stores can no longer sustain the costly maintenance of the malls. Changes in the retail climate Structural changes in the department-store industry have also made survival of these malls difficult. These changes have contributed to some areas or suburbs having insufficient traditional department stores to fill all the existing larger-lease-area ''anchor spaces''. A few large national chains have replaced many local and regional chains, and some national chains are defunct. In the US and Canada, newer " big box" chains (also referred to as "category ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Century III Mall Interior
A century is a period of 100 years or 10 decades. Centuries are numbered ordinally in English and many other languages. The word ''century'' comes from the Latin ''centum'', meaning ''one hundred''. ''Century'' is sometimes abbreviated as c. A centennial or centenary is a hundredth anniversary, or a celebration of this, typically the remembrance of an event which took place a hundred years earlier. Start and end of centuries Although a century can mean any arbitrary period of 100 years, there are two viewpoints on the nature of standard centuries. One is based on strict construction, while the other is based on popular perception. According to the strict construction, the 1st century AD, which began with AD 1, ended with AD 100, and the 2nd century with AD 200; in this model, the ''n''-th century starts with a year that follows a year with a multiple of 100 (except the first century as it began after the year 1 BC) and ends with the next coming year with a multiple of 100 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Don Mills Centre
The Don Mills Centre was a shopping mall in Toronto, Ontario, Canada. It was located on a 44-acre (17.8 ha) commercial site, at the southwest corner of Don Mills Road and Lawrence Avenue East in Toronto. There were at least 98 stores during the height of the mall's existence. The majority of the mall was closed and demolished in summer 2006 for redevelopment as the Shops at Don Mills. History E. P. Taylor of Argus Corporation originally bought the land for a brewing plant, but decided to make the site the focal point of the 2,100-acre (850 ha) planned community. Initial construction of the Don Mills Centre began in 1954. In 1955, a strip plaza was opened with a Dominion supermarket, Kofflers Drug Store (the first Shoppers Drug Mart), Brewers Retail and a dozen other retailers. Don Mills Centre was primarily intended to serve the local community, centrally located within walking distance of many rental units built around the core of the community, which included a sizeable popul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lien
A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the person who has the benefit of the lien is referred to as the ''lienor'' or ''lien holder''. The etymological root is Anglo-French ''lien'' or ''loyen'', meaning "bond", "restraint", from the Latin ''ligamen'', from ''ligare'' "to bind". In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of Mortgage law, mortgage or charge. In the US, a lien characteristically refers to ''Nonpossessory interest in land, nonpossessory'' security interests (see generally: ). In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has Default (finance), stopped making payments to the lender by forcing the sale of the asset used as the Collateral (finance), collateral for the loan. Formally, a Mortgage law#Mortgage lender, mortgage lender (mortgagee), or other lienholder, obtains a termination of a Mortgage law#Borrower, mortgage borrower (mortgagor)'s Equity of redemption, equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). Usually, a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower default (finance), defaults and the lender tries to Repossession, repossess the property, courts of equity can grant the borrower the Equity of redemption, equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pittsburgh Mills
The Galleria at Pittsburgh Mills, or simply Pittsburgh Mills, is a super-regional shopping center northeast of Pittsburgh, Pennsylvania in Frazer Township, along PA Route 28 near its intersection with the Pennsylvania Turnpike. The mall is the second largest shopping complex in Western Pennsylvania, and the main retail center for the Allegheny Valley with of retail space on . The grand opening of the mall portion of Pittsburgh Mills was on July 14, 2005. History Pittsburgh Mills was conceived and originally developed by the Mills Corporation, now Simon Property Group. On December 30, 2006, Mills Corporation announced it sold its stake in Pittsburgh Mills to its partner in the project, Zamias Services, Inc. of Johnstown. Because of this, Pittsburgh Mills is currently the only Mills-branded mall that is neither owned or managed by Simon in the United States. Vaughan Mills near Toronto, CrossIron Mills outside Calgary, and Tsawwassen Mills in Delta are the only other Mills- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sears Holdings
Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-largest retailing company in the United States in 2015. It filed for Chapter 11 bankruptcy on October 15, 2018, and sold its assets to ESL Investments in 2019. The new owner moved Sears assets to its newly formed subsidiary Transformco. History 2004–2005: Formation On November 17, 2004, the management of Kmart Holding Corporation announced its intention to purchase Sears, Roebuck and Co. under a new corporation. Kmart previously emerged from Chapter 11 bankruptcy protection on May 6, 2003. The new corporation became known as Sears Holdings Corporation, simply known as Sears Holdings. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands. The merger of Kmart and Sears closed on M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JCPenney
Penney OpCo LLC , Trade name, doing business as JCPenney (colloquially Penney's and abbreviated JCP) is an American department store chain store, chain with 649 stores across 49 U.S. states and Puerto Rico. It is managed as part of the Catalyst Brands portfolio alongside other apparel retailers such as Brooks Brothers and Eddie Bauer. Its departments include men's, women's and children's apparel, cosmetics, jewelry, and home furnishings along with Store-within-a-store, leased departments managed by Shearshare, US Vision and Lifetouch. The chain focuses on lifestyle products for American middle class, middle class households. Overview JCPenney was founded in 1902 as a group of dry goods stores that James Cash Penney managed as part of the Golden Rule chain and incorporated under his own name in 1913. The stores were initially located in downtown areas but shifted to shopping malls during the 1960s. The chain struggled in the early 21st century amid the rise of internet retail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macy's
Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. The first store was located in Manhattan on Sixth Avenue between 13th and 14th Streets, south of the present-day flagship store at Herald Square on West 34th Street that opened in 1902. It expanded beyond the New York metropolitan area by acquisitions and conversions of regional department stores, facilitated by the purchase of Macy's by Federated Department Stores in 1994. It achieved a national footprint with the acquisition of The May Department Stores Company by Federated in 2005, which resulted in the conversion of its department stores to Macy's in 2006 and the renaming of Federated to Macy's, Inc. in 2007. Macy's is also a sister brand to the Bloomingdale's luxury department store chain and Bluemercury beauty store chain. Macy's is the largest department store company by retail sales in the United States, with 94,000 employees and an annual revenue of $25.3 billion . It operates ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Apocalypse
The retail apocalypse refers to the closing of numerous brick-and-mortar retail stores in the United States, especially those of large chains, beginning in the 2010s and accelerating due to the mandatory closures during the COVID-19 pandemic. In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising costs, leveraged buyouts, low quarterly profits outside Economics of Christmas, holiday binge spending, delayed effects of the Great Recession, and changes in spending habits. American consumers have shifted their purchasing habits due to various factors, including experience economy, experience spending versus material goods and homes, casual fashion in relaxed dress codes, as well as the rise of e-commerce and particularly juggernaut companies such as Amazon.com and Walmart. A 2017 ''Business Insider'' report dubbed this phenomenon the "Amazon effect" and calculated that Amazon.com was generating more than half of retail-s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simon Property Group
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties as of 2021. History 20th century Simon Property Group dates to 1960, when brothers Melvin Simon and Herbert Simon (real estate), Herbert Simon began developing strip malls in Indianapolis, Indiana. In December 1993, they took their interests public as Simon Property Group in the largest initial public offering of a real estate investment trust to date. Simon Property merged with the newly public DeBartolo Realty Corporation, owner of the real estate assets of Edward J. DeBartolo Sr., in 1996 to form Simon DeBartolo Group. In the following year, the company acquired The Retail Property Trust for $1.2 billion in a hostile takeover. Also in 1997, in partnership with Macerich, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mall Walking
Mall walking is a form of exercise in which people walk or jog through the usually long corridors of shopping malls as a substitute for a running track or other walking venue. Many malls open early so that people may mall walk; stores and other such facilities generally do not open at this time, though vending machine concessions are available. Many choose to mall walk as the indoor climate is comfortable, secure, and there is easy access to amenities, such as benches, toilets, Wi-Fi for fitness tracking, media access, and water fountains. Others are attracted to mall walking strictly for the opportunity to spectate other visitors of the mall. Clean and level surfaces also provide a safe walking environment. Mall walking is undertaken individually, in groups, or as part of an organized mall walking program. Mall walking in the United States is especially popular amongst senior citizens. Many mall walkers cite the camaraderie of walking in groups. In popular culture Mall walking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Atlantic
''The Atlantic'' is an American magazine and multi-platform publisher based in Washington, D.C. It features articles on politics, foreign affairs, business and the economy, culture and the arts, technology, and science. It was founded in 1857 in Boston as ''The Atlantic Monthly'', a literary and cultural magazine that published leading writers' commentary on education, the abolition of slavery, and other major political issues of that time. Its founders included Francis H. Underwood and prominent writers Ralph Waldo Emerson, Oliver Wendell Holmes Sr., Henry Wadsworth Longfellow, Harriet Beecher Stowe, and John Greenleaf Whittier. James Russell Lowell was its first editor. During the 19th and 20th centuries, the magazine also published the annual ''The Atlantic Monthly Almanac''. The magazine was purchased in 1999 by businessman David G. Bradley, who fashioned it into a general editorial magazine primarily aimed at serious national readers and " thought leaders"; in 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
