Matt Weinstein discusses how the pandemic has caused movie theaters to close and what that means for mall landlords in GlobeSt.
As a result of COVID-19 regulations, some movie theater chains temporarily suspended operations while others were predicted to declare bankruptcy. As these theaters figure out their next steps, mall landlords need to consider other options for movie theater spaces if shutdowns continue.
According to Matt, “the move does not guarantee an imminent bankruptcy protection filing.”
He also points out that if movie theaters were to stay closed, a grocery store can easily utilize that space. He explains how the square footage of a movie theater roughly matches the space a grocery store would need.
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