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Malls plan for more store closures

April 30, 2018

Malls are regrouping in a new retail environment as department stores, which have served as anchor tenants for so long, close stores.

CBL executives last week warned that the second quarter would be particularly weak in what will likely be a weak year. Indeed, CBL executives told analysts last week that they are prepared to weather a storm.

“While disappointing, we were not surprised with the outcome of the Bon-Ton bankruptcy,” CBL CEO Stephen Lebovitz told analysts, according to a transcript from Seeking Alpha. Lebovitz noted that his company had incorporated “a potential [Bon-Ton] liquidation in our reserve estimate for the year.”

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