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Message: <blockquote data-quote="embee" data-source="post: 8146250" data-attributes="member: 7026827">It might be a different building but it's likely owned by the same company. And those companies are in deep trouble. [URL unfurl="true"]https://www.cnbc.com/2020/12/08/why-these-7-us-mall-owners-including-simon-are-in-trouble-sp.html[/URL]They are the landlord.And as for the theaters, who are the tenants...[URL unfurl="true"]https://www.forbes.com/sites/jonathanponciano/2020/12/11/amc-worlds-largest-movie-theater-chain-raises-100-million-lifeline-but-it-needs-750-million-to-survive-next-year/?sh=5ebf8bd1257b[/URL]Warner Bros. shook the hell out of the industry last week with its streaming announcement. [URL unfurl="true"]https://www.wdrb.com/news/movie-theaters-looking-for-community-support-15-billion-in-federal-relief/article_9e293e4e-3a5c-11eb-94d3-8ff0d0ff367b.html[/URL]If the mall goes under, it takes the theater with it. There are only a handful of companies surviving: Amazon, Walmart, Target, Best Buy, Home Depot, Lowe's. These are big box stores that are surviving by torpedoing brick-and-mortar, which is starting to shift to a fulfillment center model.[URL unfurl="true"]https://retailwire.com/discussion/stores-move-to-the-front-and-center-fulfilling-customers-expectations/[/URL]You need foot traffic for traditional storefronts. Fulfillment centers don't provide any foot traffic. And without the foot traffic, you lose the storefronts. Without the storefronts, you lose rental income. Without rental income, you can't pay the mortgage on the property. [URL unfurl="true"]https://www.usatoday.com/story/money/2020/11/13/closed-stores-hotels-retail-loan-defaults/6219469002/[/URL]And then the mall goes under, taking the theater down. This is the natural flowing consequence of overbuilding from the 90s. I'll be honest with you... Right now, I'm in my office, derping on the internet. Instead of suing people. Why? Because my clients, who are banks, don't want me suing people to collect what's due. Because they know that right now, those people don't have the money. Something bad is coming. And a lot of stalwart chains might not survive it. Including movie theaters.</blockquote>

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