Sears’ decline is threatening to kill off at least 200 shopping malls, according to a new report.
Sears threat to shopping malls
The retailer has closed 22% of its stores in the last decade, and it’s expected to shutter even more locations as it struggles to stay afloat following years of declining sales, Credit Suisse analysts wrote in a recent report.
When anchor stores like Sears shut down, shopping malls tend to suffer financially and eventually shut down.
That’s because malls must find a replacement tenant for the massive retail space that the anchor store occupied, which is nearly impossible — especially in malls that are already financially strapped — when every major department store is reducing its retail footprint.
Read entire article in Business Insider.