Sunland Park Mall Owner Files Chapter 11
Sunland Park Mall has gone through a lot of changes over the past couple of years. First, online shopping took a big chunk of mall's customers. Next, it was COVID-19 and the lockdown due to the pandemic. Now Sunland Park Mall has filed for Chapter 11 bankruptcy.
This doesn't mean the mall will suddenly close up shop. Business will actually continue on as usual for now. That's a good sign as Sunland Park Mall just welcomed in a bunch of new store sand restaurants. CLICK HERE to check out what new is coming to the Sunland Park Mall.
Ohio-based Washington Prime Group, the company that owns Sunland Park Mall, released a statement that said:
The COVID-19 pandemic has created significant challenges for many companies, including Washington Prime Group, making a Chapter 11 filing necessary to reduce the company’s outstanding indebtedness.
I still say there are a few things that malls can do to make money. It doesn't really matter what mall you're in, chances are there's a big empty end of that mall where Sears used to be. I have two ideas for malls to utilize their space.
- Convert to affordable housing. Seriously. Malls take up a ton of space with huge parking lots. I have no idea if it's feasible to get the buildings up to code for living conditions or get the plumbing lined up properly for this, but it should be looked into.
- Convert some areas of the malls to conference rooms and meeting spaces. One of the big things we learned from the pandemic is that a lot of companies can have their employees work remotely. But, that's not to say that you don't need the occasional face-to-face meeting. Malls can adjust a small portion of their space to become available for meetings.