Reports arriving from Howard Davidowitz of Davidowitz & Associates. As more Americans save and spend less, it’s clear there’s too much retail space. Just visit Web site deadmalls.com and track retail’s growing body count. And luxury retailers? They’re on "life support," Davidowitz says. Just about every super retailer in the Post Mall in Milford is bleeding money at unsustainable levels. Layoffs are common, and an estimated 220,000 stores will be shut down this coming year. This marks real bad news for mall owners who already lost many jewelry stores and toy stores. In Milford this is especially bad news because the Post Mall is our towns largest taxpayer.
The super Retailers are dubbed the "Anchors" of the retail model at malls. When anchors fail, as they did at the Bridgeport mall back in 1990's the entire system soon collapses as foot traffic dies off to virtually every store.
While I hope their is something spectacular about our mall, it is important to note that when a giant chain fails it fails everywhere not just in one particular place or state. The time is now here to wait and see what happens to our mall.
Hear the warning by clicking HERE
Failed Malls So Far In Connecticut:
Bristol Centre Mall: Bristol, CT
Chapel Square Mall: New Haven, CT
Charter Oak Mall: East Hartford, CT
Farmington Valley Mall (now Simsbury Commons): Avon, CT
Hartford Civic Center / Hartford 21: Hartford, CT
Lafayette Plaza / Hi-Ho Center: Bridgeport, CT
Meriden Mall: Meriden, CT
CT POST ARTICLE
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