When Triple Five reported in July that it had lost some tenants, the price of about $1 billion worth of municipal bonds funding the company’s American Dream mall in New Jersey fell to about 87 cents on the dollar.
One would assume that Alaska, huge as it is, with not so many people and all that white snow, would be one of the cleanest places in the land. But one would apparently be wrong.
Most people who know Stephen Lebovitz, CBL Properties’ chief executive, were sure he wouldn’t surrender without a fight the company founded in 1978 by his father Charles B. Lebovitz.
Retailers whose businesses have been devastated by the pandemic but who have enough cash on hand to remain in operation through the holidays will do so.
