Long before retail was impacted by social distancing, the American mall was fighting for survival. Early signs of this were everywhere: perpetual discounting and promotion, insufficient staffing, stale inventory, and outdated storefronts. A number of these retailers are highly-leveraged assets, a culprit even a junior financial analyst could identify. As a result, a deluge of layoffs and closures began within two weeks of foot traffic falling. What will a healthy retail ecosystem look like when normalcy returns?
In the fall of 2017, WeWork purchased the building of an iconic retailer on New York’s Fifth Avenue. It signaled a new era for the cowork building network, one that wouldn’t be limited by the cost structures of rented tables, private offices, or floors. But there is such thing as too much money, too many core focuses, and too many leaders democratizing the vast opportunities ahead of them.
