US retailers quicken exit from malls as online shopping bites

Retailers vacated US shopping centres at the fastest pace in at least nine years in the second quarter as the relentless rise of online shopping and collapse of debt-laden chains begin to hit the commercial property market.

More than 7,400 store closures have been announced this year, with Sears, Victoria’s Secret and Charlotte Russe among a raft of household names to shut outlets in malls across the country.

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