Retail Merger

     There's a proposed merger between J.C. Penny and Belk, and whether it goes through or not, Eastdale Mall in Montgomery may pay the price.

     Both chains have an anchor store in the city's first enclosed Mall.
     If the merger does go through, the J.C. Penny would close, and even if there is no merger, that store may still close.

     Word of the proposed merger came this morning, as J.C. Penny struggles to survive a bankruptcy, and as Belk is laying off employees. Both retail chains have been hurt by Covid 19, with customers on lockdown. Many of those customers are also unemployed, and not spending as a result of both factors. Bloomberg reports:

The merger..."plan would involve re-branding J.C. Penney stores to Belk stores in markets where the two retailers don’t overlap; the rest of the J.C. Penney locations would be liquidated."