David Simon, the CEO of the biggest mall owner in the US, Simon Property Group, has said the retail industry looks to be “reaching the bottom” after a pronounced wave of bankruptcies, CNBC has reported.
His comments come on the heels of Forever 21 and Barneys New York, among other retail chains, filing for bankruptcy this year. The level of bankruptcies is rivalling the pace of 2017 with thousands of store closures announced.
It remains to be seen if this increase in available space poses the opportunities that the amusement industry hopes it will.
