Market Overview

Taubman Centers Temporarily Closes Shopping Malls Due To Coronavirus

Share:
Taubman Centers Temporarily Closes Shopping Malls Due To Coronavirus

Taubman Centers, Inc. (NYSE: TCO) announced Thursday that it will temporarily close all but two of the company’s U.S. shopping centers in response to the coronavirus pandemic. 

The closures will be effective through March 29 or later if required by the government.

“After numerous discussions with state and local officials, we will temporarily cease operations in all but two centers this evening,” CEO Robert Taubman said in a statement. “We are clearly in unprecedented times and this is right decision for our shoppers, retailers, employees and these communities."

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Taubman Centers shares were trading up 2.73% at $42.33 at the time of publication Thursday afternoon. The stock has a 52-week high of $54.50 and a 52-week low of $26.24.

Related Link:

Simon Property Group Announces $3.6B Take-Private Acquisition Of Taubman Group

Beverly Center photo by ChildofMidnight via Wikimedia

 

Related Articles (TCO)

View Comments and Join the Discussion!

Posted-In: coronavirus Covid-19 retailNews Retail Sales Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com