Because the economy is down, many retailers are feeling the pressure just like everyone else. As a result, malls across the county are experiencing 10-25% vacancies with many stores reducing their overhead. Because of this, there are some malls that are facing foreclosure, including at least one in Illinois. The Machesney Park Mall currently owes almost $2 million from the loan that was taken out to purchase the property eight years ago, including an additional $600,000 in real estate taxes.
http://www.westmontattorneys.com/Bankruptcy/
No comments:
Post a Comment