According to one former department store executive a third of America’s Shopping Malls are going to permanently close by next year, with their demise is being accelerated due to the global coronavirus pandemic.
“The mall has been losing ground for a long time, now it’s losing ground faster, expect we are going to see at least 20% of the [inside of the] mall go. I expect to see a third of the malls go a lot sooner than we thought,” – Jan Kniffen, a current retail consultant and former exec at The May Department Stores, which was eventually folded into Macy’s.
