The Motley Fool
With retail chains closing at a record pace, empty spaces are piling up at some malls. With Toys R Us and Bon-Ton going out of business entirely while perennial anchor tenants Macy's has closed hundreds of locations and Sears appears to be at risk of closing entirely, mall owners are finding themselves looking for clever ways to fill openings. Add in the fact that interior mall retailers including Claire's, Gymboree, Rue 21, Payless, and countless others have declared bankruptcy, and you have a crisis for mall owners that's not going to be solved by more retailers coming along.
Instead, if malls want to remain viable, their owners have to turn to something other than stores to fill open spaces. That has started to happen and the result is a transformation for some malls from shopping centers to something new entirely. . . . more