WILMINGTON – There were only a dozen Belk stores in existence when the North Carolina-born department store opened its 13th in Wilmington in 1915. William Henry Belk’s soon-to-be mammoth retailer started in Monroe in 1888 with a single location known as the New York Racket. By the turn of the […]
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Two major mall owners file for bankruptcy
CBL Properties (CBLPRD) and PREIT (PEI) filed for Chapter 11 on Sunday and both will continue operating while they navigate the restructuring process. The companies have previously warned they were in perilous positions because some of their largest tenants, including JC Penney, Tailored Brands and Ascena Retail Group, have filed […]