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Fashion District

All articles tagged with #fashion district

business2 hours ago•11 min saved

Hope on the racks: a L.A. Fashion District couple fights to keep their dress shops alive after ICE raids

A year after ICE raids hit L.A.’s Fashion District, Salvadoran couple Joel Galvez and Leanor Torres struggle to keep their two dress shops afloat as sales plummet (from about 50 dresses on Saturdays to ~10), rent climbs (~$11,000/month), and debt balloons (roughly $20,000 to $150,000) while fear of deportations and new raids unsettles customers; the disruption also reverberates through nearby vendors, yet the pair persist and cling to hope for recovery.

via Los Angeles Times|

#business #fashion-district #immigration

business2 years ago•2 min saved

PREIT, Philadelphia Mall Owner, Files for Chapter 11 Bankruptcy and Surrenders Fashion District Ownership

Philadelphia-based mall owner PREIT has filed for bankruptcy for the second time since the pandemic, with part of the filing involving the sale of the Fashion District Philadelphia. This bankruptcy filing gives full ownership of the Fashion District to Macerich, a Santa Mónica-based developer. While there are plans for a billion-dollar NBA arena at the site, it still needs approval. PREIT officials have assured tenants, vendors, and employees that they will not be impacted in the near future. The bankruptcy filing is aimed at reducing PREIT's debt load by $880 million and positioning its other properties to better compete with online shopping.

via WPVI-TV|

#bankruptcy #business #fashion-district

business2 years ago•1 min saved

PREIT, Philadelphia Mall Owner, Files for Chapter 11 Bankruptcy and Surrenders 50% Ownership of Fashion District

Philadelphia-based mall owner PREIT has filed for bankruptcy for the second time since the pandemic, relinquishing ownership of the Fashion District Philadelphia. The bankruptcy filing gives full ownership of the property to Macerich, a Santa Mónica-based developer. While there are no concrete plans yet, future possibilities for the Fashion District include a billion-dollar NBA arena for the 76ers. PREIT officials have assured tenants, vendors, and employees that they will not be affected in the near future. The bankruptcy and sale of the property are part of PREIT's financial reorganization to reduce its debt load and compete with online shopping.

via WPVI-TV|

#bankruptcy #business #fashion-district

business2 years ago•4 min saved

PREIT, Owner of Multiple Malls, Declares Second Bankruptcy Amid Pandemic

Philadelphia-based shopping mall operator PREIT has filed for Chapter 11 bankruptcy protection for the second time in three years, citing over $1 billion in debt. After the bankruptcy process, PREIT is expected to become privately owned by investors instead of being publicly traded. The company's shopping mall portfolio, including the Center City Fashion District, will be affected by the bankruptcy. Macerich Company will take over the $350 million debt and daily operations of the Fashion District. The future plans for the Fashion District, including a potential $1.5 billion NBA arena, are still in progress.

via WHYY|

#bankruptcy #business #debt-restructuring

society3 years ago•1 min saved

Fashion Districts and Malls Impose Teen Curfews to Ensure Safety.

The Fashion District in Philadelphia has imposed an afternoon curfew for anyone under the age of 18, in response to recent disturbances involving unaccompanied young people. Minors will not be allowed into the shopping mall without an adult over the age of 23 after 2 p.m. The curfew will be in effect daily and anyone who appears to be 18 or under may be approached by security or law enforcement to provide proof of their age.

via WPVI-TV|

#curfew #fashion-district #minors

society3 years ago•2 min saved

Philadelphia's Fashion District Enforces Afternoon Curfew for Minors

The Fashion District of Philadelphia will impose an afternoon curfew for anyone under the age of 18, starting Monday. Minors will not be able to go into the shopping outlets without an adult over the age of 23 after 2 p.m. The new curfew is in response to recent disturbances involving dozens of unaccompanied young people. Fashion District officials say anyone who appears to be 18 or under may be approached by security or law enforcement to provide proof of their age.

via WPVI-TV|

#curfew #fashion-district #minors

crime3 years ago•2 min saved

Multiple Incidents of Teenage Chaos and Officer Injuries in Philadelphia's Center City

Four teenagers were cited for disorderly conduct and carrying an airsoft gun after a large group of youths gathered at the Fashion District mall in Center City, Philadelphia on Wednesday night. Contrary to earlier reports, no rocks were thrown at officers and no property damage was reported. A police officer suffered an ankle injury while chasing a suspect. The crowd was dispersed and the injured officer was reported in stable condition. Community leaders emphasized the need for guidance and dialogue with young people to prevent such incidents in the future.

via The Philadelphia Inquirer|

#crime #disorderly-conduct #fashion-district