Wednesday, February 6, 2019

Charlotte Russe closures will hit Simon Property Group and General Growth Properties hard

Thinknum
Charlotte Russe filed for chapter 11 bankruptcy, detailing its plan to close "approximately 94 of its store locations" in a press release on Monday.

In terms of exposure to the closures, Simon Property Group looks to be hit hardest. It currently leases 106 Charlotte Russe locations, which sit inside its vast shopping mall portfolio. General Growth Properties looks to be hurt as well with exposure to 78 stores.. . . more