Can Amazon Save the Simon Property Group from Oblivion? — Market Mad House
Strangely, Amazon (NASDAQ: AMZN) could save the mall operator Simon Property Group (NYSE: SPG) from oblivion.
To explain, Amazon and Simon are discussing the conversion of 63 JC Penney (OTCMKTS: JCPNQ) and 11 Sears stores into e-commerce distribution hubs, The Wall Street Journal claims. Both department store chains have filed for Chapter 11 bankruptcy, The Real Deal reports.
Amazon could rent the department store buildings from Simon at a discount, The Real Deal speculates…