An investigation earlier this year found that of 68 shopping malls owned by the Glazer family’s First Allied Corporation, four had gone bust and one more had defaulted on its mortgage. An analysis of the most recent financial news about the malls has found that four more have since failed to pay their mortgages and became classified as ‘delinquent’, with two falling into default this month.
An investigation earlier this year found that of 68 shopping malls owned by the Glazer family’s First Allied Corporation, four had gone bust and one more had defaulted on its mortgage. An analysis of the most recent financial news about the malls has found that four more have since failed to pay their mortgages and became classified as ‘delinquent’, with two falling into default this month.
In the normal course of events the fate of US shopping malls or the confidence of US consumers would have little to do with English football. But under conditions of globalisation, all these events are much more interconnected. It is hardly good news at a time when the Glazers’ Manchester United-related pik loans have seen a further increase in their already penal interest rates.