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Washington Prime Group CEO Lou Conforti (Twitter)

Washington Prime Group files for Chapter 11 bankruptcy

In November, with mall owners getting crushed, Washington Prime Group CEO Lou Conforti said that bankruptcy was off the...

Washington Prime Group files for Chapter 11 bankruptcy
U.S. President Joe Biden removes his mask before speaking about updated CDC mask guidance. (Getty)
New York

In CDC we trust: Mask guidance prompts changes

Aliza Bixon had insisted clients wear masks while exercising at her Miami Beach Pilates studio. Before vaccination, they had...

In CDC we trust: Mask guidance prompts changes
The parcel of land in Causeway Bay (Google Maps)
Weekend Edition

Hong Kong sells Causeway Bay site for $2.5B

The Hong Kong government auctioned a parcel of land in Causeway Bay this week for the first time since 1997, and it sold for much more than expected. Hysan Development Co. and Chinachem Group...

Hong Kong sells Causeway Bay site for $2.5B
Nearly half of new shops in 2021 will be dollar stores. (Getty)

2021 is raining dollar stores

Cost-conscious consumers have gotten the attention of retailers. Nearly half of the 3,597 stores expected to open nationwide this year will be no-frills discount shops, according to a report from Coresight Research. Dollar General...

2021 is raining dollar stores
National chains and mom-and-pop stores are seeing increasing sales per square foot and shrinking occupancy costs (Getty)

National chains paid 93% of rent in April

In April 2020, one month after pandemic-related lockdowns started in much of the U.S., national chains such as Ann Taylor, Bob’s Discount Furniture, Men’s Wearhouse and Tilly’s did not pay any of their rent....

National chains paid 93% of rent in April
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