Ala Moana /Ward Center Bankrupt?

[macuu222]

Looks like it might come to that. I was there last week and the place was like a ghost town. Even the food courts had alot fewer people than usual. I actually walked through the new Nordstrom building without seeing one human face. I was there last Wednesday at Noon.

http://www.honoluluadvertiser.com/articl...20369/1001

[gtill]

Did you get near a walmart, the one in Hilo is hopping most of the time. Looks like conspicuous consumption is dead for awhile.

[kani-lehua]

was at the waikele shopping center on o'ahu yesterday and there were tons of people--locals and tourists shopping. the restaurant that we ate in was jambed pack and had a line out the door.

kmart at the same complex, was so so. there were people, but not a whole lot.

"chaos reigns within.
reflect, repent and reboot.
order shall return."

microsoft error message with haiku poetry

[aikahimomma]

in keeping this forum on the big isle...prince kuhio plaza is in the same boat

[JerryCarr]

The main problem (at least for now) seems to be the fact that the holding company that owns Ala Moana overextended itself by buying another, less successful holding company a few years back. They did this deal on too-easy credit (where have we heard this before?) and now can't make the payments. Their difficulties do not appear to be because their tenants are unable to pay their rents . . . so far. Most mall rents are based on a monthly lease payment plus a percentage of gross sales. If retailers have a long stretch of bad sales, the mall landlords will really be in trouble.

Cheers,
Jerry