While the supermarkets that anchor necessity-based shopping centers across the U.S. are open and setting sales records, tenants such as restaurants and fitness clubs are closed and constructing survival plans.
Retail was already challenged on many fronts prior to the pandemic. Now the industry is facing terrible realities that make the bankruptcies and store closures of the past few years seem tame by comparison.
Despite the fact that some states are planning to open up restaurant dining rooms, McDonald’s United States president Joe Erlinger said his company will move slowly in returning to business as usual.
Kirkland’s is making permanent job cuts and is in discussions with landlords to defer or waive rent while its stores remain closed amid the COVID-19 pandemic.
Matt Hendy, who spent 13 years at Regency Centers and oversaw all the company’s Midwest development and operations, has moved on to another leading owner of grocery-anchored shopping centers.
