The winners of the bankruptcy auction for teen clothing retailer Aeropostale weren’t a competing clothing chain or another retailer hoping to get into the teen clothing biz: it was a joint venture by mall landlords, who apparently didn’t want to face another hole in their shopping centers left by a bankrupt retailer. [More]
Aeropostale, a teen-focused clothing retailer, filed for bankruptcy earlier this year, and since then its continuing existence has been in question. Its business assets are up for auction this week, and the retailer reports that a bid has come in that would keep the doors open and the jeans flowing onto store shelves. [More]
There’s less than two weeks left until Thanksgiving Day, and consumers are beginning to learn which retailers will be open on the holiday so they can either plan their shopping trips or get very, very upset. Some people in Michigan have taken the “get upset” option, holding a protest outside of a mall that is scheduled to open at 6 P.M. [More]
Simon Property Group might not be a household name, but you’ve probably visited one of their establishments before: they’re the whole or partial owner of hundreds of malls. That’s 242 million square feet of retail space and thousands of stores in almost every state, Canada, and Asia. Most of them are opening up during dinnertime or the early evening on Thanksgiving Day. [More]
Melvin Simon, founder of mega-mall operator Simon Property Group, died today at 82. While Simon is best known for running the largest mall operator in the U.S., with hundreds of properties nationwide, he made other — far more significant — contributions to America’s cultural landscape. And, no, we’re not talking about the Indiana Pacers, which he also owned. Simon was also a movie producer, and helped reinvent the teen sex comedy with “Porky’s,” the 1982 classic that introduced the world to the unique talents of Kim Cattrall and educated millions of young men about what not to do in the shower. We’ll remember you for that, Mel — not for flooding the nation with Hot Topics, Piercing Pagodas and A&Fs.