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Mall Tenants Had an Out When Giants Like Macy’s Left. Now Landlords Bar the Door

Mall Tenants Had an Out When Giants Like Macy’s Left. Now Landlords Bar the Door

The only thing more dangerous for America’s malls than a string of apparel-chain bankruptcies is when the trouble hits department stores. Retailers like J.C. Penney Co. and Macy’s Inc. are considered “anchors” that keep malls humming and foot traffic flowing. Now, many landlords are pushing to eliminate or narrow the escape clauses in the wake of mass department-store closings.