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THE OWNER OF 104 SHOPPING CENTERS FROM THE USA FILES FOR BANKRUPTCY

... including the well-known brands Brooks Brothers, J. Crew, Pier 1, Aldo and GNC. Amid the pandemic, the number of Americans choosing to shop online has markedly increased. At the same time, WPG announced financial losses in the amount of $ 219 million. WPG has been around since May 2014. Then the company separated from the SPG holding (Simon Property Group), having the rights to 5 million square meters of usable retail space. Last year, its revenues from leased premises of the shopping center decreased to $ 506.7 million. In comparison with 2019, the company missed $ 126.9 million.

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