They’re too busy dealing with the present.For example, mall owner CBL & Associates warned in a public filing that it faces a risk of going out of business. Eastview Mall's occupancy rate consistently exceeded 90% through the years. "The retail industry was hit particularly hard by this pandemic, but the shopping center industry has been struggling over the past decade," said Tom Wilmot, chairman of Wilmorite, in a statement in May.Wilmorite also operates Marketplace Mall in Henrietta, the Mall at Greece Ridge and Pittsford Plaza. "They looked like Marshall's," Weasner said. (2/2)The mall has adjusted its hours to allow for thorough cleaning overnight â the temporary hours are Monday through Saturday 11 a.m. to 7 p.m. and Sunday Noon to 6 p.m.Although the mall will reopen Friday, some stores will not open due to short notice given by the state.The mall is expecting some to come back in a week or two to allow for their staff to come back and prepare. The new store is more than double the size of the previous site, located in the same wing of the mall near Starbucks. According to a news release, the "closing stores feature an abundant assortment of merchandise at significant price reductions" including brands DKNY, Nike, Ralph Lauren and Tommy Bahama.Some shoppers seem to be taking the news of the closure in stride while others are sad.Toni Weasner of Brighton said she's been disappointed in Lord & Taylor after its former parent company Hudson Bay sold it to French-based Le Tote last year. Download it here.Check the latest closings and delays for schools, businesses, and churches. I think it's going to take a hiatus for a while because people don't have the money right now.”The challenges facing department stores, in particular, are especially problematic for malls — and not just because of the foot traffic they’re supposed to deliver. Malls and their anchor tenants were facing difficult times even before the coronavirusThe closing of Lord & Taylor, one of the country's oldest department stores, comes on the heels of a wave of retail bankruptcies and closures across the nation.The iconic department store, which has a store in Victor's Eastview Mall, filed for bankruptcy protection in the Eastern Court of Virginia on Sunday, Aug. 2, after not being able to recover from the pandemic shutdown that impacted the entire retail sector.Since May, numerous stores have sought Chapter 11 protection, including: Ascena Retail Group, parent company of Justice, Ann Taylor and Lane Bryant; New York & Company's parent company RTW Retailwinds; Lucky Brand; J.C. Penney; Brooks Brothers; Sur La Table; Neiman Marcus; Tuesday Morning; Tailored Brands; GNC; and J. Crew.The parent company of suit sellers Men's Wearhouse and Jos. “But there are so many new tenants out there that are interested in space and interested in experiencing bricks and mortar and I don't think that's going to fade. But I don't know that COVID was the cause of the issue to begin with,” Taubman said.But he acknowledged that the pandemic will require malls to adapt their approach, especially because retail leasing is not expected to rebound quickly, even if a vaccine ultimately puts an end to the crisis.“I think we're seeing a higher rate of evolution right now than we have in the past and we're going to have to move,” Taubman said. Bank also filed for Chapter 11 bankruptcy protection Aug. 2 after recently announcing plans to permanently close up to 500 stores. Lord & Taylor, of one of the nation's oldest department store chains, has started liquidating 19 of its 38 stores. Reproduction in whole or in part without permission is prohibited.Our new Spectrum News app is the most convenient way to get the stories that matter to you. It will take a while for all of your favorite stores to re-open, and we will do our best to keep our website updated with the most current information. By Mary Chao, Nathan Bomey and Kelly Tyko USA TODAY Network
The current occupancy rate at Eastview Mall is 88% — with a goal of being at … "We have been blessed in Rochester to have had viable malls, but this pandemic has put everyone on shaky ground, and we cannot sustain a long-term shutdown," Wilmot said. The three largest malls in Rochester have filtration systems that meet state guidelines for reopening on Friday.The doors at Eastview Mall in Victor last saw customers on March 18 as things shut down in light of the COVID-19 pandemic.We are happy to share that we have been given the go-ahead to re-open to the public on Friday, July 10. VICTOR — Eastview Mall is reopening Friday after a nearly three-month closure caused by the coronavirus pandemic. Crew had billions of dollars in debt that weighed them down, placing them on watch-lists for Chapter 11.“The COVID crisis has impacted them in a way that has deteriorated their business plan. "Hilco Merchant Resources and Gordon Brothers are managing the store closing sales.
"Customer service had gone downhill. Many malls also have clauses in their leases that allow other, smaller tenants to leave if anchor tenants drop out.“The department store is just a format that does not work anymore,” said Chris Kuiper, a CFRA Research stock analyst who tracks mall companies. Choose the plan that’s right for you. The strong will survive, but they will take a financial hit in the short term.”Brown rejected the suggestion that Americans will stay away from mall restaurants, for example, after the pandemic.“Dining at home is nice, but the food doesn’t arrive as hot, it’s not presented as well and somebody always has to do the dishes when you’re done,” Brown said. The doors at Eastview Mall in Victor last saw customers on March 18 as things shut down in light of the COVID-19 pandemic. “How many is anybody’s guess, but we’re hoping it’s a minority.”Analysts at Coresight Research, which tracks retail closures, projected that about 25% of America’s malls would disappear within the next three to five years.But that could rise to as many as 50% “if we can’t stop the bleeding,” Coresight CEO Deborah Weinswig said in an interview. Few are typically located in malls.On the other hand, department stores and apparel retailers, which dominate most malls, have been floundering. Reza Sattari operates Oriental Rug Mart in Eastview Mall, and he’s having a good day.