Milford Mall Threatened By Ailing Giants

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

Local Retailers Face Hardship in 2008

The year is coming to a close and the Federal Reserve has indicated there is a good chance of a National Recession. The numbers on the economy continue to disappoint economists with the poorest performing sectors being in Banking and Real Estate. Retailers also saw a disappointing holiday season as they indicated their sales were off.

Locally here in Milford I have noticed a more obvious growth of retail vacancies in plazas like the one here on Cherry Street where half the plaza appears up for lease. Milford has a very large retail base many of it from national chains like the new Lowes, Sears, and large chain stores. Should shoppers continue to curb spending into the the future the dynamic of our retail markets could dramatically change as major retail corporations rethink ways to contain losses and keep their finances on track.

Cramer from "Mad Money" the popular CNBC Cable show said that he is not concerned about all the dismal economic news, he believes that none of it is Germain in the face of Strong employment numbers throughout the country. He has no intention of sounding the "alarm" on the economy but said should the employment numbers rise to high un-employment in addition to the slumping economy, than his entire optimistic opinion will dramatically change to one of serious concern.

The current sentiment is that the economy will continue to slump into 2008, the Fed will continue to take corrective measures, and the dollar may very well continue its decline as the U.S. struggles to maintain control over the health of and continuity of our debt mired nation.