More Empty Space at the Mall
Jul 31, 202015.6K Shares867.9K Views
The Bennigan’s and Steak & Ale restaurant chains have filed for bankruptcy and are closing their doors, leading to the elimination of some 300 stores, The Wall Street Journal saystoday. The two sit-down chains have been part of the casual dining landscape for decades, the paper explains. These closings follow a recent decision from Starbucks to close600 stores. All this means more empty space at the mall, and more problemsfor regional banks that made commercial real estate loans for strip mall developments. Calculated Risk explainsit this way: "More empty space available. More bad debt. More consumer ripples."
The credit squeeze keeps getting tighter.
Hajra Shannon
Reviewer
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