What to do with All the Dead Malls
America’s malls are dropping like flies in the age of coronavirus. Malls are dying because coronavirus and Amazon (NASDAQ: AMZN) are killing their tenants.
For example, geriatric department store chain JC Penney is bankrupt and being chopped up for parts by Amazon, Simon Property Group (NYSE: SPG), and Brookfield Property Partners (NASDAQ: BPY). Meanwhile mall operator Simon Property is suing The Gap (NYSE: GAP) for unpaid rent and Nordstrom (NYSE: JWN) is closing stores.