Mall owner Washington Prime reportedly prepping to file for bankruptcy

Louis Conforti, CEO of the Washington Prime Group, on CNBC’s Mad Money.

Source: CNBC

U.S. shopping mall owner Washington Prime Group is preparing to potentially file for Chapter 11 bankruptcy protection, with time running thin before the company defaults after it skipped an interest payment on its debt, Bloomberg reported Thursday.

Last month, Washington Prime missed a $23 million interest payment and said it would be entering a 30-day grace period to continue negotiations with lenders.

But those talks have since been faltering, Bloomberg reported, citing conversations with people familiar with the matter. Still, the plan to pursue bankruptcy could

Read more

Twitter Testing Shopping Card eCommerce Feature

Twitter is getting into the social shopping scene with a “Shop” button prominently displayed on some tweets, TechCrunch reported on Thursday (March 4).

The new concept will integrate merchandise information as part of the tweet and link to an eCommerce store. The tweet card will include the name of the shop, product, and price.

The concept idea was first spotted by social media consultant Matt Navarra, who tweeted screenshots of the experience, per TechCrunch. 

Twitter told TechCrunch that the tweet is an example of the eCommerce-focused tweets the social media platform is planning.

Read more

Disneyland’s new Star Wars store is attracting massive crowds

Guests are returning to Downtown Disney, the shopping and dining district outside Disneyland that’s the only part of the resort currently open to visitors.

On Feb. 24, over a mile of cars were queued up to park before the gates to the Disney lot even opened. Attendance has been so high that Anaheim police have been in the area in the mornings to manage traffic and the crowds.

So what’s all the fuss over? In short: Star Wars.

Read more:

How a Disney disaster in Europe robbed California of Westcot, a Disneyland version of Epcot. California Adventure almost didn’t exist

Read more

How China’s ShopShops Livestream App Is Taking Over

street style   berlin   february 15, 2021

Jeremy MoellerGetty Images

With brick-and-mortar stores around the country closed for a good portion of 2020, retailers have had to get creative in terms of customer reach. As a result they’re finding new ways—namely virtually—to provide clientele with the intimate shopping experience many have so desperately missed. However, with China’s beloved ShopShops livestream app expanding its offering to U.S. sellers (in beta), it’s worth noting that the expansion was well underway before the pandemic; waves of lockdowns around the country only sped things up.

Founded back in 2016 by Liyia Wu, ShopShops started as a “directory of U.S brands”

Read more

Shopping Malls Lose $4 Billion In Value

Shopping malls, once a vital part of the American landscape and the backbone of the retail industry, have seen real estate values plummet an average of 60 percent in 2020, Bloomberg reported on Tuesday (Mar. 2).

Following reappraisals, some 118 retail mall properties lost $4 billion in value compared to 2019, according to Bloomberg data. The reappraisals were prompted by late payments, defaults or foreclosures. The decline represents the value drop since the mortgage debt originated, which could understate losses when it comes time to sell, since physical retail has been struggling for years. 

Read more