Even before COVID-19 dealt a body blow to “non-essential” physical retailers, malls were experiencing significant business headwinds — particularly in the “B” and “C” centers that lack major attractions and popular anchor stores. But now, in addition to the short-term closures necessitated by the coronavirus, malls may be dealing with longer-term structural challenges. One of the most significant: iconic but struggling department stores, including JCPenney, Lord & Taylor, Macy’s and Neiman Marcus,could be permanently crippled by the pandemic, as reported by the New York Times.
