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47°
Tuesday, apr 30
Tag:
Simon Property Group
Business
JCPenney Offers Billions To Buy Rival Kohl's, Report Says
The owners of JCPenney are bidding to acquire rival Kohl’s, according to a new report. Shopping-mall owners Simon Property and Brookfield Asset Management have offered around $8.6 billion for Kohl's stores, the New York Post reports. Under the plan, JCPenney's parent company would maintain two separate brands and cut costs by $1 billion at Kohl’s over the next several years, the Post said, citing a source. After filing for bankruptcy in the spring of 2020, JCPenney was acquired by Simon Property Group and Brookfield Asset Management. With about 1,160 locations in every state except Hawaii…
Business
Covid-
19: Mall Owner Pulls Back On Reopening Date
Not so fast. Simon Property Group is now hitting the brakes on any potential openings of some New York malls on Saturday, May 16. Earlier this week, the company announced that it intended to open several malls, possibly some in New York, though it planned to take extra safety precautions, including taking customers' temperature and enforcing social distancing. A statement released by the company caused confusion among New Yorkers and politicians alike. “Shopper response to our reopenings has been very positive,” the company said in a statement earlier this week, commenting on properties t…
Business
Covid-
19: Concerns Voiced As Local Malls Plan To Reopen
Click here for an updated story - COVID-19: Mall Owner Pulls Back On Reopening Date Simon says ... it’s time to reopen some malls in the region amid the novel coronavirus (COVID-19) crisis. Simon Property Group announced this week that Woodbury Common Premium Outlets in Orange County will be reopening on Saturday, May 16, the day after the state “unpauses” and begins reopening some non-essential businesses. Other planned openings in New York include Shops at Nanuet, and The Westchester in White Plains. In total, nearly two dozen properties in the area are expected to reopen, pend…