American Dream Megamall Sees Losses Quadruple To $245 Million
Well if you consider the "American dream" nowadays to be spending money you don't have while racking up debt, the American Dream megamall outside of New York City (in NJ) might be aptly named after all.
The massive shopping destination inside of the Meadowlands saw its losses quadruple last year, according to the New York Post, sending the facility a stunning $245 million into the red.
The facility is having trouble attracting tenants and is watching customer foot traffic slow, according to the report. Its expenses and debt, as we have documented here on Zero Hedge over the last 2 years, have been burdensome.
The megamall had probably the worst "grand opening" timeline in history, welcoming customers for the first time just five months before the Covid pandemic locked down consumers and ensured the failure of many businesses who couldn't adapt.
1 comments:
The construction of this mistake took forever, and several times it came to a complete halt. Christie then the NJ Governor had to step in to "save" it. It is only a matter of time until it dies a slow death.
Post a Comment