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Macy’s closes five stores

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Macy’s has announced it is closing five of its stores as part of an ongoing process to prune underperforming stores while also opening new locations in promising markets. The company, which operates 809 Macy’s and 40 Bloomingdales stores nationwide, will close Macy’s locations in Boise, Idaho; Waterford Mich.; St. Ann, Mo.; Missoula, Mont. and Burlington,… Continue Reading Macy’s closes five stores

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Changes at Chapel Hills despite bankruptcy

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General Growth Properties, a publicly traded real estate investment trust that owns and operates Chapel Hills Mall, is accelerating its plan to emerge from bankruptcy protection by forging agreements with lenders on about $9.7 billion in outstanding mortgage loans. Chapel Hills Mall General Manager David Moss said the move is a precursor to the company’s… Continue Reading Changes at Chapel Hills despite bankruptcy

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NEW YORK (AP) – Shoppers, worried about job security and finding fewer options among the sales bins, remained tight-fisted during July, resulting in sluggish sales for many merchants and raising concern about the back-to-school shopping season’s health. As merchants reported their sales figures today, mall-based chains continue to be hit hardest as consumers focus on necessities.… Continue Reading Sluggish July sales show tight-fisted consumers

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LOS ANGELES (AP) – General Growth Properties Inc., the nation’s second-largest mall operator and owner of the Chapel Hills Mall in Colorado Springs, filed for Chapter 11 bankruptcy protection this morning. The company failed to persuade a majority of its debt holders to give it more time to refinance billions of dollars in debt racked… Continue Reading Owner of Chapel Hills Mall files for Chapter 11 bankruptcy protection

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