Market Overview

Taubman Centers Temporarily Closes Shopping Malls Due To Coronavirus

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."

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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


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