👉Mall Bankruptcies, Retail Apocalypse & Mass layoffs Continue !!

👉Mall Bankruptcies, Retail Apocalypse & Mass layoffs Continue !! Eight months into the pandemic, mall bankruptcies, and retail carnage continues. Corporate bankruptcies are surging, small businesses shutting down. The explosion of bankruptcies and layoffs is unlike anything we have ever seen before. Job losses and store closings are all at apocalyptic levels.Hotel and restaurant industry apocalypse continues. The Main Street economy is collapsing. While the monster that is AMAZON which pays no taxes is getting richer as this goes down! Chicken Littles unite and start shopping again! Bankruptcies before the looting starts. Malls to become future Amazon warehouses. The Federal deficit and debt totally out of control as record federal spending continues. The last eight months have been an unending nightmare for the U.S. economy. Businesses are shutting down at a pace that we have never seen before in American history, the retail apocalypse has reached an entirely new level that none of the experts were anticipating prior to this pandemic, and we are in the midst of the greatest spike in unemployment that the United States has ever experienced. The damage from the pandemic and the consequent government shutdowns continue to ripple through the economy. Every week seems to bring another round of retail bankruptcies. With conditions worsening, the numbers are likely to keep climbing. As many as 25,000 stores are expected to close in the U.S. in 2020, mostly in shopping malls, according to Coresight Research. Department stores and fashion boutiques are seen as the most endangered. The pandemic worsened an already dire situation for brick-and-mortar retailers, with a steady stream of chains falling victim as their customers shifted to online shopping. Between bankruptcies, distressed owners, store closures, and existing vacancies, at least half of Mall’s square footage is now at risk. And hundreds of other malls around the country are in the same boat. They’ll have a tough time filling this space. There’s going to be malls that are like a barren wasteland. Two Mmajor mall landlords already filed bankruptcy amid this retail carnage. Due to pandemic-induced pressures, America’s ailing malls have suffered a pair of body blows as two major landlords followed their bankrupt tenants into Chapter 11 protection. The two U.S. mall owners that filed for bankruptcy on Sunday could be just the beginning. As retailers ranging from J.C. Penney Co. to Brooks Brothers Group Inc. go bust, their landlords are struggling too. It looks like Consumer confidence missed these guys. Traffic is down, and revenues are down. Some of these malls are not going to make it under the current business model. They never got their debt to a place where they could get through the next downturn like we’re seeing now. No amount of restructuring can change that. The retail sector – particularly brick and mortar companies – was struggling even before the pandemic. The government shutdowns in response to the pandemic, have sent it into a freefall. Retail companies are going bankrupt at a record pace. Financial advisor BDO released an overview of US retail bankruptcies and store closures through the first half of 2020. It concludes that the pandemic has exacerbated the problems already plaguing the sector. Brick and mortar retail companies have been pummeled by bankruptcies and store closures. Through the first six months of 2020, 18 retailers filed for Chapter 11 bankruptcy, with an additional 11 filing in July through mid-August. The pace of bankruptcies rivals 2010 in the wake of the Great Recession. In addition to the bankruptcies, more than a dozen retailers, including Macy’s, Bed Bath & Beyond, and Gap, have announced they will shutter 50 or more stores, totaling combined 4,200-plus stores. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. Many of you have asked me where they can buy silver and gold bullion. You will find in the description box the links where you can buy American Silver Eagle, Silver Bars, or Rounds. I highly recommend that you start stacking some Silver Bullion for the future. Two mall operators filed for bankruptcy protection Monday, hurt by the ripple effect of the pandemic, which has forced many of its mall tenants to permanently close stores or not pay rent. Both companies, CBL, and Pennsylvania Real Estate Investment Trust said their malls would remain open as they go through the bankruptcy process. Even before the pandemic-induced store closures, malls struggled to attract customers who were increasingly shopping online. The pandemic forced many malls and their retail tenants to temporarily close for months. Mall tenants, which operators rely on for rent, have been stressed this year. Some are going bankrupt and closing stores such as J. C. Penney and California Pizza Kitchen. The mall bankruptcies come weeks before a crucial holiday shopping season. With disease cases rising, malls will need to limit crowds during what is traditionally their busiest time of the year. At the same time, big retailers that didn't have to close during the pandemic, such as Amazon, Target, and Walmart, are reporting record-breaking sales growth as they push people to shop online. CBL which operates 107 malls, said more than 30 of its tenants have filed for bankruptcy protection this year and are shutting stores, including women's clothing retailer Ascena, which has 100 Ann Taylor, LOFT, and other stores in CBL malls. Based in Tennessee, CBL operates malls across the nation, including Eastgate Mall in Cincinnati and West County Center in St. Louis. PREIT, based in Philadelphia, has more than 20 properties, including Cherry Hill Mall in Cherry Hill, New Jersey, and Viewmont Mall in Scranton, Pennsylvania. Trouble bringing customers back like other malls looking to attract shoppers, PREIT has added restaurants, movie theaters, and gyms to its properties in recent years. But those establishments have been hit harder by the pandemic and have stricter social distancing rules on how many people can visit. As more businesses collapse, more workers will lose their jobs. So even though we have already seen more than 60 million American workers file new claims for unemployment benefits in 2020, more waves of unemployment are still on the way. The chickens are coming home to roost. And their solution is more of what caused the problem to begin with .Low-interest rates, easy money, and unprecedented stimulus. None of this has been factored into stock and housing valuations. None. Because of moratoriums and stimulus. The can , can be kicked only so long; then it is so heavy when you kick it it doesn't move and hurts your foot, Badly. New York City together with other big cities and their businesses have reached a pivotal point. After over eight months with the specter of pandemic hovering in every subway car and corner bodega, the pandemic is showing signs of resurgence. New York City faces a financial abyss. The pandemic has crippled tourism, retail, and the culture sector. The damage could last years, and layoffs, service cuts, and added debt are all on the table. San Francisco is now facing a historical record high inventory of condos for sale and sharp drops in condo prices. The unemployment rate in New York is already 16 percent, twice as high as the rest of the country. Personal income tax revenue is expected to drop by $2 billion this fiscal year. Only a third of hotel rooms are occupied, and apartment vacancies in Manhattan have hit a peak. This fall, the nation’s largest city will see even more padlocked doors as companies burn through federal and private loans they tapped in March, landlords boot businesses that can’t make rent, and plummeting temperatures chill outdoor dining and shopping. By late fall, there will be an avalanche of bankruptcies. When the cold weather comes, that’s when we’ll start to see a surge in bankruptcies in New York City. New York bankruptcies reportedly surge 40% during the pandemic. The crisis has hit a number of industries across the United States, with retailers and restaurants among those hardest hit. Century 21, the parent company of Chuck E. Cheese and Neiman Marcus are among the companies that have filed for bankruptcy as a result of the pandemic. But in New York City, which became the epicenter of the virus in March, the environment has been especially challenged. Tourism has plummeted, government officials have been more cautious about reopening the economy, and many wealthy residents have fled to the suburbs. Another flurry of bankruptcies and permanent closures is expected as cold weather arrives along with a forecast a new wave of the pandemic. Forbearance and mothballing. Not that complicated. They may be able to do a grand reopening in the spring or summer or 21, but until then, they need to arrange/declare forbearance and mothball facilities. If necessary, the government should step in and force the parties to accept forbearance. The Fed can provide the funds to the banks to ensure debtors' obligations are paid and converted into new bank loans or other debt instruments. Creditors can be kept whole and receive their payments and principal during forbearance. Some of the interest and principal may have to be rolled into new obligations relevant to debt position and paper quality. Those holding higher positions and holding higher quality paper from the pre-collapse days should have a higher forbearance position as far as receiving a higher percentage in forbearance payouts during conversion. Whilst those holding junk may be forced into continuing to participate as creditors and receiving lower percentage payouts during conversions. If it'll work for the movie theaters, then it'll work for the airlines, airport authorities, ports, et cetera. The problem is less about the economy than about the lack of applied talent and creativity, and willingness to work through these difficult times. Too many slackers and lazy minded people in the Washington Regime. It's clear these people have not been up to snuff and not just in the USA but elsewhere in the world economy. It's like the babies have taken over, and they're just whining and crying about how bad things are, and their milk sippy cup is half empty, and they need a nappy change. You know the new stimulus is going to be like 3 Trillion dollars as soon as the new administration gets settled in at the White House? They’re gonna pump so much money; your eyes will spin out. The new stimulus will forgive rents for the proles and mortgages money people, heck even for Airbnb investors. All Student debt will be canceled and paid for with tax money from suckers with high incomes in all the desirable cites, San Francisco, Los Angeles, New York, Boston, etc. 3 Trillion Dollars – Plenty of government Jobs for those people with women studies/environmental degrees, with great benefits. You see, things will just go back to what they were in a few months. -Universal Basic Income. -Higher minimum wage. -Free College. -Universal Health care. Taxes/health care and all living costs are gonna shoot up for all the productive middle-class people. Time to move out of the country and just working remotely even if one gets a 20-40% salary cut is way better to be GONE. We cannot fix an inherently flawed system. The only solution is to till it under and plant the better seed. The problem is that those who want to till it under also want to plant an even worse seed. And those who fight to keep what was planted don't see just how bad the seed they love is. Guaranteed degeneration. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!