Thursday, August 30, 2018

Mall News

Brookstone filed for Chapter 11 bankruptcy protection and will close all of its 101 stores in US malls. The company will continue to operate its 35 airport stores and e-commerce and wholesale businesses...Sally Beauty plans to close as many as 100 stores, or 1 - 2% of its footprint of 5,177 stores...Samuels Jewelers filed for Chapter 11. The 120-store chain, which has roots dating back to 1891, is now for sale and is talking to several interested parties. Samuels Jewelers operates in 23 states under the names Samuels Diamonds, Samuels Jewelers, Schubach Jewelers, Rogers Jewelers, and Andrews Jewelers. The company says most of its stores are profitable, and they are all still operating. Samuels is pursuing a going concern sale, but has enlisted Gordon Brothers and Hilco to sell off excess inventory… American Dream Meadowlands, the mammoth retail and entertainment destination now taking shape in East Rutherford, NJ, will reportedly open this spring. The long-delayed center will include an indoor Nickelodeon Universe theme and water parks, Lego Discovery Center, Sea Life aquarium, 16-story indoor ski slope, miniature golf course and some 450 retail stores and a 150,000 s/f food hall. American Dream, formerly known as Xanadu, broke ground more than a decade ago, but its construction stalled, delayed by various problems, including financing difficulties. In 2011, Canada’s Triple Five Group officially took over control of the project and rebranded it as American Dream. Triple Five’s portfolio includes the largest shopping center in North America, West Edmonton Mall in Alberta, Canada, and the largest US center, Mall of America, Bloomington, MN.

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