House of Fraser will live to fight another day. Despite doubts around its CVA plan, creditors voted in favour of it on Friday which means it will now close 31 stores, reducing its size by more than half in the process.
Malls have spent a reported $8 billion on renovations to distance themselves from traditional retail outlets. Trends include renaming properties, and adding entertainment and residential features for secondary use.
Private equity investors like Blackstone and Xander Group are looking for malls in India, betting that people will flock to stores as more foreign brands open and online retailers ease their aggressive discounting.