Two Mall Chains Go Under, but Andy's Gonna Save Florence?

 

Last Monday, two of the largest operators of American malls declared bankruptcy. At that time, CBL (107 malls) and PREIT (more than 20 malls) both stated that so few rent-paying tenants made it impossible for them to pay utilities, maintenance, security, taxes, etc. on their properties. Both real estate companies stressed that they're not closing malls at this time, but looking for investors to save the retail establishments. Good luck with that; any of you out there want to invest?

Meanwhile, here in Florence new mayor Handy Dandy Andy is going to save Florence Mall with a few phone calls. While we're sure accountants know more about saving malls than real estate magnates, we somehow doubt his promises will come to fruition. In areas where Andy could actually do some good - homeless and animal welfare - Andy is literally working against these projects.

If you live in Florence, contact your city council reps and tell them how you feel.