When Charlotte Malls And Department Stores Close, What Happens Next?
This summer, it was announced that Charlotte’s Northlake Mall could be headed for foreclosure. The mall is in debt and, according to The Charlotte Observer, it is likely to be sold. With the increase of e-commerce, malls and other retail spaces closing is not a new phenomenon. But the COVID-19 pandemic is expected to accelerate malls closing. And malls aren’t the only thing in trouble. Just this past year, Charlotte-based Belk entered and then later exited bankruptcy.
Department stores and malls both are at risk of shuttering not only in Charlotte but across the United States. Jobs, the economy and communities are all expected to shift with this changing retail landscape. We talk to a panel that covers and studies the retail economy.
Daphne Howland, senior reporter for Retail Dive
Saravanan Kesavan, professor at UNC Kenan-Flager Business School
Catherine Muccigrosso, retail business reporter for The Charlotte Observer