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Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak.

Source : PortMac.News | Globe :

Source : PortMac.News | Globe | News Story:

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Largest owner of USA shopping malls closing all properties
Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak.

The closings come after several department stores from Macy's, J.C. Penney to Nordstrom and other mall brands including Gap, Victoria's Secret and Sephora, have announced they are also temporarily closing locations.

In a statement, the company said the decision came after "extensive discussions with federal, state and local officials and in recognition of the need to address the spread of COVID-19.

"The health and safety of our shoppers, retailers and employees is of paramount importance, and we are taking this step to help reduce the spread of COVID-19 in our communities," president and CEO David Simon said in the release.

The closings include the company's 209 U.S. properties, which include malls and premium outlets in 38 states and Puerto Rico. Simon officials did not immediately respond to USA TODAY's request for comment about whether anchor stores that have said they are staying open are affected by the closings

J.C. Penney closing all stores

US retailing giant J.C. Penney is temporarily closing all stores and business offices in response to the coronavirus. The announcement comes a day after the retailer said it would reduce store hours.

Stores will close at 7 p.m. local time Wednesday and are scheduled to reopen April 2, the company said in a news release.

The move comes after Macy's and other department stores announced they were closing.

“With the effects of the outbreak being felt more each day, our primary concern and area of focus is and has been on the health and safety of our associates, our customers and our communities,” Jill Soltau, J.C. Penney CEO, said in a statement. “We know this is a critical, unprecedented time and our thoughts are with those who have been impacted.”

You can expect Australian retailers like Myers to be under similar pressure.


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