Pandemic claims first US retail REIT casualty - search results

CBL listed both estimated assets and liabilities in the range of about $1 billion to $10 billion

Shopping mall operator CBL & Associates Properties Inc voluntarily filed for Chapter 11 bankruptcy protection on Sunday, becoming the latest mall

Mall owner CBL & Associates Properties Inc filed for court protection from creditors, following some of its biggest tenants into bankruptcy after the pandemic kept consumers at home, forcing many retailers already weakened by e-commerce to quit paying rent

. . (Bloomberg) - U. . K. . Travel and leisure stocks fell on Monday after several European countries closed their borders with the UK and the government announced new social restrictions due to the spread of a mutated version of the coronavirus. Stay-at-home stocks, meanwhile, got a boost. Airlines expecting an elevator during the holiday season were among the hardest hit companies, including British Airways' parent company, International Consolidated Airlines Group S.. . A. 20% and Easyjet Plc 17%, the largest declines since the March pandemic. Ryanair Holdings Plc, which has already announced that it will offer changes or refunds on free flights to customers who have been banned by European Union governments, slipped 7. 6%. Domestic rail and bus companies also fell as millions of Brits canceled Christmas travel plans: FirstGroup Plc fell by 9. 2% and Go-Ahead Group Plc lost 12%. Travel pain spreads when Europa blocks U.. K. . The movements weighed on the European Stoxx 600 Travel & Leisure Index, which fell by up to 5. 5% in its worst intraday decline in about three months, making the biggest annual loss since the 2008 financial crisis on track by about 22%. . Traders fear that the tougher strain of the virus has already been transmitted to mainland Europe, raising fears that other countries could have a similar situation to the UK, CMC Markets U.. . K. . Analyst David Madden said via email. U. . S.. . Airline shares were in premarket trading with Delta Air Lines Inc. . , United Airlines Holdings Inc. . and American Airlines all fall by about 3%. A member of the White House Virus Task Force said over the weekend that the U. . S.. . Flights from the UK need not be suspended yet. Local locking adjustments to the U. . K. . The tiering system means that mixing households in London and much of the South East is now banned, and socializing in the rest of England is restricted to Christmas Day only. The action is a new blow to pub and restaurant stocks like JD Wetherspoon Plc, which fell by 8. 8% and Restaurant Group Plc by 13%. . "Tier restrictions will continue to have a major negative impact on profitability," Liberum analyst Anna Barnfather wrote in a statement to customers. Forcing non-essential retailers to close in areas with the highest restrictions weighed on Next Plc, which fell 5. 4% and Sports Direct owner Frasers Group Plc, minus 6. 3%. Among the winners who stay at home, grocery shipping companies like Delivery Hero SE and Just Eat Takeaway rose around 1% each, while meal set maker HelloFresh SE solidified 0. 4%. Work-from-home shares TeamViewer AG and Logitech International S. . A. Both were up about 1% while companies benefiting from demand for Covid-19 testing also grew, with DiaSorin SpA up 1. 5%. Elsewhere, U. . K. . Exporters saw their falls cushioned by a weaker pound as the pound sterling slumped against the dollar due to double virus damage and the lack of a Brexit trade deal as talks continued in Brussels. The weaker pound tends to be positive as revenue abroad is converted into pounds. Diageo rejected 0. 6% while Unilever rose 0. 2%. The FTSE 100 index fell 1. 5% at 9:45 a.m.. m. in London against the Europa Stoxx 600 2. 1% fall with the pound down 2. 2% against the dollar. The U. K. . FTSE 250 index moves 2. 1%. (Adds analyst comment, latest stock movement, chart. ) For more articles like this, please visit us on Bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .