The largest mall owner in the US is in talks to turn ailing Sears and JC Penney Stores into Amazon distribution warehouses.
Simon Property group has been grappling with empty retail space at malls across the country as anchor department stores took a major hit during the pandemic and e-commerce boomed.
Now the mall company is in talks with Jeff Bezos' Amazon to convert stores formerly or currently occupied by JC Penney or Sears into distribution hubs, as both chains filed for chapter 11 bankruptcy protection and have been closing dozens of stores across the country, according to the Wall Street Journal.
Simon Malls has 63 JC Penney stores and 11 Sears stores, according to its recent public filing in May.
Similarly Lord & Taylor filed for bankruptcy early this month, Neiman Marcus Group Ltd filed in May and Nordstrom Inc closed 16 stores in recent months.
It’s not clear just how many …