Sears Holdings Corp. and Claire’s Stores Inc. are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences, according to a Fitch Ratings study.
Teen clothing retailer Aeropostale Inc. won court permission Monday to sell its assets to buyers led by Indianapolis-based Simon Property Group Inc. and General Growth Properties Inc.
A consortium led by Indianapolis-based mall giant Simon Property Group Inc. and rival General Growth Properties Inc. has won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores.
Without the rescue, it appears the teen fashion retailer’s remaining stores are heading for liquidation, an event that will put about 10,000 people out of work. Aeropostale has five Indianapolis-area stores.
Some banks have been closing their mini-branches in stores, but PNC Financial Services is applying the trend toward automated transactions to its new location in Carmel’s Market District Supermarket.
J.C. Penney Co. is in a surprising position more than four years after it was almost run aground by a former CEO: It could be the last department store standing at your local mall.
Sears Holdings Corp., which operates about 80 stores in Indiana, is once again lining up financing after losing more than $9 billion in recent years.
Macy’s operates three Indianapolis-area stores—at Glendale Shopping Center, Castleton Square and Greenwood Park Mall.
Simon executives told analysts during a conference call Wednesday that the company has added 200 restaurants to its tenant mix in the past five years, 53 of which should open either this year or in 2017.
The mall owner said funds from operations, a key performance measure, remained flat, but they beat analyst estimates by a penny.
Most U.S. malls are still dependent on department stores to draw customers, but with consumers doing more shopping online, retail centers are increasingly relying on restaurants, entertainment amenities and even medical facilities to attract traffic.
Homebuilder Paul Estridge Jr. has been in discussions about acquiring the sprawling 106-acre property on Ditch Road, according to a source familiar with the deal.
Debt-laden Bon-Ton Stores Inc. operates just one store in Indianapolis, but that store is the largest tenant in Circle Centre—and considered a vital occupant for the downtown mall.
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
Two former guest-services managers at shopping malls in Illinois and Oklahoma have sued Indianapolis-based Simon Property Group, claiming the retail property giant violated the Fair Labor Standards Act.
Experts estimate that several hundred shopping malls could shut down over the next decade after owners relinquish them to lenders rather than make steep loan payments.
Indianapolis-based Simon Property Group Inc. and Warsaw’s Zimmer Biomet Holdings vaulted back among the top 500 this year, while local oil refiner Calumet Specialty Products Partners plummeted.
The Pogue’s Run food cooperative on the city’s east side is discussing whether to put down stakes a few blocks away in the Clifford Corners mixed-use development.
At least one industry analyst that follows Indianapolis-based Kite Realty said a union between the two companies wouldn’t make sense, given that most of Kite’s properties are strip centers and WP Glimcher’s are shopping malls.
It turns out that Simon Property Group spun off its less profitable malls and zeroed in on high-end properties at just the right times. Analysts say middling malls are losing out as retailers decide where to pare locations.
